Digital customer tipping
Headquarters: Chicago, U.S.
CEO: Doug Miles
Website: Youtip
Founding date: 2020
Investment: Bootstrapped
Youtip is a specialty payments company that facilitates digital tipping and financial wellness for employees.
PhocusWire coverage:
Founders Nicholas Okuley, Sarah Taveprungsenukul and Doug Miles
Strategic goals for 2022
In 2021, we launched the first enterprise digital tipping solution to help employers recruit and retain employees and to help workers take home more pay.
In 2022 we'll focus on employee wellness by tailoring a mobile solution for workers to improve
overall financial and health wellness by automating positive habits for saving, investing and spending.
Lightning-fast digital transactions and transfers represent a giant leap in convenience but may also imperil the accumulation of "slow
money" in savings, retirement and health spending accounts.
We'll balance our facilitation of instant tipping and payments with smart, low effort paths to better wellness for workers.
Lessons learned over the last year
We’ve learned that employees have reassessed their relationship with work and have very different expectations than they did a year ago.
In response to this tectonic shift, employers have brainstormed and experimented with ways to re-engage with
workers to better engage and accommodate workers. We see an important role for Youtip in this new work world.
We have also learned that the shift toward cashless transactions was more significant than anyone expected and that there is a heightened
expectation for digital payment options.
These expectations have driven a wave of new uses for QR codes and NFC tags for payments, such as virtual tours and curbside food pickup.
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