16 Jun Silvr: Quicker Than Cash
By this fall, DFW won’t need to worry about having cash at the valet.
Silvr, a single-party mobile payments provider, enables “consumers to make payments from their phones, for items traditionally only accessible by cash.” And as Bart Lomont, cofounder and CEO of Silvr, points out, it’s “actually quicker than cash.”
Another Dallas-area startup, Parqer, also offers a cashless option for consumers. Parqer uses Stripe, which encrypts and stores payment information.
Silvr, however, tokenizes payments using a QR code. The other key difference is that Silvr is free to users, while Parqer charges a convenience fee.
The possibilities are truly endless, especially with a decline in cash use over the last several years. A 2009 study of New York taxis found that drivers’ tips actually rose when they started accepting credit cards, “to an average of about 22 percent from 10 percent.”
Silvr has raised $300K from angel investors and is currently in discussions with a strategic lead investor.
The pilot program for the Silvr app will roll out this fall, and the company hopes to also expand into the non-profit world.
Silvr is a product of Dialexa Labs, led by Bart Lomont. Scott Harper and Mark Haidar are co-founders of Silvr, but focus the majority of their time on Dialexa business.