Hands In, the groundbreaking payments start-up, has successfully concluded a funding round, raising an impressive $550k to expedite the advancement of its innovative group payment services. Backed by influential figures in the payment industry, including GoCardless, Thredd (formerly GPS), Elavon, FIS, Pay.com, PayU, Curve, and Free Trade, Hands In aims to revolutionize the way online groups make payments, offering customers the convenience of splitting the cost of their purchases at the checkout.
Group travel has become increasingly popular among Gen Z and Millennial travelers, with a staggering 59% of their purchases being made in groups of three or more individuals. However, frustration arises when group travelers are required to front the entire cost of the transaction on a single card, often leading to failed transactions. Recognizing this issue, Hands In's solution meets a longstanding need in the tourism sector by enabling customers to split the basket equally among the group or by item. This unique approach allows all group members to actively participate in the transaction, ensuring that no money is deducted until each member has opted in and confirmed their involvement. By doing so, Hands In not only drives incremental sales for retailers but also reduces e-commerce friction for group payments.
Hands In has garnered significant support from global online travel agencies and airlines, with multiple agreements already in place, including one with Spain's fourth-largest airline. The confidence displayed by these major players in the industry further solidifies Hands In's position as a game-changer in the field of group payments. Additionally, Hands In has secured commercial contracts with prominent names in the payments industry, ensuring the integration of their group payment services into various platforms.
“The concept of not being able to split payments at the checkout came out of a real-life experience I had when I was at university. A group of us wanted to make a large ticket purchase with the cost shared between us, but the payment method at the time restricted one of us to upfront the bill and be left out of pocket. This made it a nightmare to complete the bookings. Research confirmed that the issue faced was universal, with up to 20% of travel bookings failing at checkout as a result. However, for many online travel agencies and airlines, building this solution on top of a complex legacy infrastructure can be too expensive and time-consuming. Large players are looking for a solution that sits across their existing payment infrastructure, and that is exactly what Hands In provides. We are a young team delivering a solution to a real-life problem we faced, and we are hugely grateful to our investors, all of whom see the potential for Hands In,”
- outlines Samuel Flynn, Founder and CEO of Hands In
Beyond the tourism sector, Hands In's plug-and-play platform offers a simple and effective solution for industries grappling with group purchases. While its application is particularly relevant to travel, it also caters to ticketing, hospitality, and other sectors where group payments are commonplace. By providing a seamless and convenient payment experience, Hands In brings substantial value to businesses operating in these sectors.
With the successful completion of its recent funding round, Hands In is well-positioned to revolutionize group payments in e-commerce. By addressing the frustrations faced by group travelers and offering a user-friendly solution, Hands In has gained support from key players in the payment industry and forged partnerships with global travel agencies and airlines. As the demand for streamlined group payment experiences continues to grow, Hands In's innovative approach sets the stage for increased sales and reduced friction in online group transactions across multiple industries.
