LevelUp is Down to Half Its Former Headcount, and Needs to Raise Money Fast

Re:LevelUp is Down to Half Its Former Headcount, and Needs t... by adamio on Tuesday April 02, 2013 @01:35PM (#5480798)

What service is LevelUp providing? A loyalty club and CRM for only customers that use LevelUp? It seems that shop owners are either town between forcing a major change on customers or just having a LevelUp POS incase a customer wants to use his phone to pay for stuff. For this to be sustainable, shop owners should have incentive to go LevelUp only. Also are the reduced merchant fees contracted?

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Re:LevelUp is Down to Half Its Former Headcount, and Needs t... by mackey on Tuesday April 02, 2013 @02:33PM (#5481231)

As a consumer, if you use LevelUp at the merchant, you get x dollar credit for every y dollars you spend. For the merchant, you aren't paying any credit card fees on that y amount. For LevelUp, they take a cut from the x dollar credit amount.

I assume that LevelUp must batch credit card transactions in order to make the fees cheap for them, and that probably requires floating a good amount of money on a daily/weekly basis.

I use LevelUp almost everyday, sometimes multiple times a day. A lot of places in downtown Boston take it, and it seems like it's great for both the merchant and the consumer.

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Re:LevelUp is Down to Half Its Former Headcount, and Needs t... by ben1040 on Tuesday April 02, 2013 @03:44PM (#5481656)

>I assume that LevelUp must batch credit card transactions in order to make the fees cheap for them,

Interestingly enough it was only this past week that they mentioned they were going to start doing this (at least going off the email I got from them). They sent the message to advise customers that they'll start batching up transactions across a few days' span and then sending a second email when they settle them all at once.

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Re:LevelUp is Down to Half Its Former Headcount, and Needs t... by mackey on Tuesday April 02, 2013 @05:31PM (#5482246)

I did notice the email saying that I had been charged ~30 dollars for a bunch of purchases I made but I probably deleted the message about the change. I figured they were always doing this, but now it makes sense.

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