We’ve all tried to share the cost of a gift or a holiday with friends and family and we all know what a nightmare it can be. One person usually ends up paying for everything, trying to collect the money from the rest of the group, dealing with people who want to drop out, join in or pay a different amount.
Chippin is a startup that brings shared payments to your favourite online stores, making it super simple for customers to split the cost of their purchase with whoever they like – at the point of purchase.
Chippin is easy for merchants to integrate into their existing stores, and runs seamlessly alongside other gateways like PayPal or Amazon Pay.
For customers, setting up a shared payment is super simple. One person sets up the purchase and selects to pay with Chippin. Their selected item is then reserved for a period of time defined by the merchant, giving other people time to chip in!
The instigator invites people to contribute via email. Contributors can then choose to accept or decline the invitation. If they accept, contributors simply enter their card details to pre-authorise the payment with Stripe (a secure payment Gateway used by companies like Lyft, Dribbble and SquareSpace). If they decline, the instigator is notified and can decide whether to absorb the extra cost or invite another user.
Chippin takes care of all the calculations so users can avoid the hassle of constantly recalculating. All payments are pre-authorised and money is only taken from a customer’s account once the instigator once the target is reached.
If you want to discuss your product or startup idea, get in touch with Simpleweb today.