PXT Payments, which operates the mobile payments and rewards app "looped in," is partnering with Boston College-based startup Jebbit for a student-focused marketing program that combines mobile payments and gaming.
To use Jebbit, students go online and play a survey game. These games are sponsored by businesses that create questions highlighting their products, and reward consumers for correct answers.
By combining the survey game with looped in, users get funds they can access on smartphones via the looped in app. The students can then spend that money immediately at a participating merchant, in this case in the neighborhood around Boston College.
"One of Jebbit's core missions is to allow students to discover and learn about the newest, most innovative products and services that will improve the lives of our members; looped in could not be a better fit," said Tom Coburn, CEO of Jebbit, in a release.
PXT Payments operates looped in using a cloud-based operating platform hosted by Sungard Availability Services. To complete settlement, PXT uses the Federal ACH payment system. The looped in app is available for iPhone or Android via the App Store or Google Play. The company refers to the app as an "ATM on an iPhone."
Consumers can use looped in to pool money for restaurant bills and other group purchases. Consumers can also transfer money between looped in and a bank account.
The looped in and Jebbit campaign follows a deal between PXT and Fenway Sports Management. That partnership will commence at Boston College's Alumni Stadium, where students will be able to pay for food and merchandise using looped in.
Jebbit was founded in 2011 and won the Boston College Venture Competition in 2011.