Zipmark Holds Celebratory Event in Brooklyn
Zipmark, a digital payment processing service that allows renters to pay bills online, held an event in Brooklyn last night to celebrate the recent release of its Developer Program—a secure payment system built for a variety of businesses and online developers—and the upcoming release of its iPhone app.
By Philip Shea, Associate Editor
Zipmark, a digital payment processing service that allows renters to pay bills online, held an event in Brooklyn last night to celebrate the recent release of its Developer Program—a secure payment system built for a variety of businesses and online developers—and the upcoming release of its iPhone app. Investors, tech developers and real estate professionals all gathered at the Brooklyn Winery in Williamsburg to toast the expeditious success of the company, which has made significant industry headway in just under two years.
Jay Bhattacharya, the company’s founder and CEO, explained what makes the service unique among competitors and why it applies so well to real estate. “With Zipmark, the differentiating factors are that it’s low-cost; we use the existing checking accounts; and we’re giving them the benefits of a wire transfer because we guarantee the funds—so there’s no bounced checks, no bad transactions and no returned transactions,” Bhattacharya said. “We feel like real estate is just a natural place because so many of those payments are still done with checks in the office.”
Bhattacharya went on to add that the company provides extraordinary convenience when compared to its leading-industry counterpart, PayPal—which can take three to seven days to deliver funds—and why he thinks continued success is on the horizon. “We deliver funds overnight, we do it for 1 percent, and there are no additional accounts other than the checking account that’s paying and the checking account that’s receiving the money,” Bhattacharya said. “It’s really a combination of the way we move the money so quickly and the fact that our services works online, on-mobile and on paper because we use the QR barcode. It allows us total coverage.”
As far as how much of the real estate market Zipmark projects it can enter into, Bhattacharya was cautiously optimistic. “We’re not looking to take 100 percent of someone’s payments—there’s always going to be credit cards; there’s always going to be other ways to pay,” Bhattacharya said. “The people who are paying with cash and checks, however, we think we can get all of that.”
To view the latest promotional video by Zipmark, click here.