PXT Payments’ Looped In App Turns Smartphones into Digital Wallets
February 9, 2013
These days, you can do almost anything with your smartphone. That now includes paying to get into a trade show, finding deals on the showfloor and purchasing vendors’ products right there in their booths.
PXT Payments, a mobile payment app and digital wallet provider, is one company that is making this possible with its geolocation-based app looped in™. PXT Payments describes looped in™ as an ATM on your iPhone or Android.
Transactions occur when the buyer texts their payment to a vendor. There is no transaction fee for the buyer, but the seller pays a 2.5 percent merchant fee.
College Fest 2012 decided to use looped in™ as their payment method of choice to get into the event, and several exhibitors, including Harvard Student Agencies, also were in on the text to pay action.
Attendees who paid for entrance via looped in™ received a raffle ticket for a chance to win an iPad.
Elsewhere, throughout the event, they were presented with special discounts, prizes and deals. Transactions are processed in seconds using this technology, and no personal data or banking data is stored, captured or sent.
In a press release announcing the partnership, David Yaris, community manager for College Fest said, "We're excited about how looped in will help make the College Fest experience even more innovative, fun, and easier flowing - with less wait time in line, great rewards for students and student groups, and geolocation to show freshmen where local places are in relation to their dorms."
While there is an obvious use for this technology at a consumer event, a business trade show or expo can benefit as well. Transactions for show services could be processed this way eliminating long lines at the service desk. Show organizers also could offer special incentives to encourage attendees to register using the app to help increase the adoption rate.
In addition, show organizers could encourage their exhibitors and sponsors to get involved. It’s easy for the exhibitor to set up and doesn’t require an Internet connection to process payments.
If an attendee is not in the market for a particular deal an exhibitor is offering, they can forward it on to another attendee they met at lunch the day before.
Deals and incentives do not have to stop once the show is over. Event organizers can extend a 365-day marketing opportunity to their exhibitors and sponsors by allowing them to post throughout the year.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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