DEMOfall09 - Pyrix, social payments with deep tracking

by Grant Robertson on September 22, 2009 at 11:30 AM

Piryx is payments for the social web, but with a host of intelligence and data mining features only available to huge companies and campaigns in the past. With roots in political fundraising, Piryx has a track record that's somewhat impressive, having recently rolled out a site to accept donations for Rep. Joe "You Lie!" Wilson, and claiming another 150 payment taking users nationwide.

The social media element comes to play as users track their incoming payments. By using custom generated urls, users can track where, who and why their customers and contributors took action and slapped down the credit card. Was it that Twitter retweet campaign, a sympathetic blogger or just another happy customer referral? Piryx helps you track the success of the efforts within your campaign.

Piryx is launching publicly with a better payments experience than the common payment sites, but they're looking to own much of the upstream marketing that funnels and fuels eventual payments, as well as providing backend analytics, compliance, and reporting functions which until now necessitated another piece of software and a larger commitment of effort. .

The fee structure of Piryx is higher than that of Paypal, but creating the same tracking and analytics with Paypal would cost far more in effort and time. At 4.5% for first $100k, and a sliding scale running down to 4% for intake of over $1 Million.

Of course, it's 2009 and "there's an app for that". Piryx's DEMOfall presentation includes a developer market, allowing third parties to build and market integration of Piryx with other services and tools. Currently available at launch are apps for Linked-In, SMS, Twitter, Facebook, with more to come.

Also launching with Piryx is a campaign for the Jon Bon Jovi Soul Foundation, raising money with the platform to combat homelessness and poverty in our nation's inner-cities.