November 26, 2013
In a recent conversation with my 11 year old gamer cousin, I asked him where do you buy your PS games? He looked at me as if I was a little dim and said I order them online obviously. The M-commerce industry expected to reach $278.9 Bn in 2013 according to PRWeb. Recently various new applications have been launched which enable user to buy stuff online easily. Among them is mobile commerce startup Paydragon.
Paydragon was founded by Hamilton chan. The application was created by Paperlinks, an Ycombinator based startup. Paydragon acquires funding of $1.35M from Rustic Canyon partners, SVAngel and Yuri Milner and Mark Schwartz. The application seeks to make buying items on a smartphone so easy that there will be nothing to stop users to make bulk purchase at a go.
Some Features of Paydragon:
This is a video showing how Paydragon works:
In order to use Paydragon users need to do the following steps:
1) Download the free Paydragon application and setup their account.
2) Then user needs to scan a PayDragon code on any commodity or non perishable grocery item.
3) After scanning, the user can find participating merchants and offers provided by PayDragon.
4.) Then user is just a thumb tap away from purchasing an item.
5.) In Paydragon there’s no building of shopping carts, reviewing item, Users just need to choose an item and click Buy and the item is on the way.
6.) The delivery time is Two days with no fuss associated with it.
The concept of two day shipping is not entirely new in M-commerce (Amazon also provides the same features). What differentiates Paydragon from its competitors however, is ease of use for customers. The user only needs to click ‘Buy’ twice, and the payment will be processed. With Paydragon users will be able to scan the barcode on almost any commodity or Non-perishable grocery item. It makes the payment process simpler for customers by allowing users to choose an item, click item and the purchase is done.
Paydragon has seen the mobile odering activity explode since its launch with revenue growth at 35% per week for 7 months. The main driver of this viral growth has been a $2 credit for posting details of a purchase on Facebook or referring a friend. The latest relaunch of its app which makes products searchable category and also the most popular items & daily/weekly deals, makes Paydragon’s checkout functionality even simpler.