Backpocket is the first payment service in the world that allows customers to checkout and instantly share the cost. Their vision is a world where friends, family and communities spend more time sharing life together, and less time worrying about money. They imagine social payments as a superpower, not a hassle.
As opposed to other payment services such as ‘buy-now-pay-later’ or credit cards, Backpocket is not designed to help people spend beyond their means. Their focus is on enabling people to navigate the complexity of social payments and spend more time reconnecting, in person. Especially in tough economic times.
The Backpocket payments service not only meets the needs of customers, but also provides an economic opportunity to industries left reeling post-COVID. Resounding feedback from the events industry is that tickets sales have been slow to rebound and return to a ‘normal’ cadence. In fact, many fear that ‘normal’ now means consumers sitting on the fence and deciding to book last minute. The average number of tickets per order has also reduced for many merchants from around 2.5 pre-COVID to under 2. This has significant financial consequences for event promoters and their partners.
Backpocket helps to reverse this behaviour by giving everybody involved greater confidence to commit – securing the success of small businesses, cultural festivals, and live music events alike.
