ChangeJar is an innovative new startup, devised up by a Canadian startup of the same name, that is designed to make it easier than ever for users to compile, collect and store change from cash transactions on their smartphones and save them up for later.
Users simply have to open up their app and use the QR code which can be scanned to receive or give change. Merchants who sign up for ChangeJar don't have to pay any business fees. What makes ChangeJar even more special is the fact that it can be used for one-on-one person-to-person money transfers.
What's great about ChangeJar is that it ensures that you can make cash transactions work for you, by ensuring that your small change doesn't go to waste.
What's Driving This Trend
- Currency-collecting Apps
- Apps that help users collect and store change from cash transactions on their smartphones.
- QR Code Payments
- Using QR codes for person-to-person money transfers and cash transactions.
- Mobile Payment Solutions
- Innovative startups offering ways to better process mobile payments for consumers.
Who This Affects Most
- Fintech
- Financial technology companies can use ChangeJar's model to create their own currency collecting apps.
- Retail
- Merchants can integrate QR codes into their payment systems to offer quick and easy transactions for consumers.
- Marketing
- Brands can offer incentives for customers to use currency-collecting apps, which can lead to increased brand loyalty.
