Pre-pay your favorite food businesses
Credibles is a service offered by Slow Money, and powered by Clearbon, for crowd-funding small, sustainable food-related businesses. The re-payment of the funding is in-kind – edible credits, or Credibles.
Prepaying a business
On the Credibles page for the business, you see the description of the business, the funding campaign, and the treats the business offers you as a supporter.
Through the “pay now” button on this page, you log in or sign in through Facebook. You then choose an amount you’d like to pre-pay the business now, using Paypal (and other options in the future).
In your account at Credibles, you will receive a balance of Credibles, as specified in the offer by the business.
Using your prepaid credits
When you visit the business that you pre-paid, you don’t need your wallet. Just say, “I’m paying with Credibles”. The business will deduct the amount of your purchase from your prepaid Credibles balance. Credibles are worth $1 at the business when you redeem them. On this website, you can always check your balance and track how you have been “eating” your prepaid credits.
For the crowdfunded business
You have many fans of what you and your business do? You expect to see them as regular customers? However, you need money to fund your operations and growth now. What if you could tap into your fans’ intentions to pay you now? With Credibles, you’d repay your customers with the goods and services you sell, not with cash. Plus, you give your fans a solid reason to be the regulars they intend to be.
Getting prepaid
On the Credibles service, you create an account and page for the business, provide a description of the business, the funding campaign, and the monetary and non-monetary (recognition!) treats you offer your prepaying supporters.
When supporter pay on your page via the “pre-pay” button on this page, you receive the amount, minus a service fee in your account. You may establish a minimum crowdfunding amount for each supporter.
On the Credibles web site, you track the incoming prepayments from your supporters.
Your crowdfunding supporters will receive Credibles in their accounts from you.
Redeeming prepaid credits
Credibles are the ‘edible credit’ you give your customers when they prepay you. Edibles are worth $1 at your business when customers redeem them. On the Credibles website, you can check outstanding balances and track how your pre-paying customers have been “eating” their credits.
Customers redeem their Credibles with a real-time transaction on your mobile device (smartphone or tablet/iPad). You check their available balance, and deduct the purchase amount.
The Credibles service provides:
- Promotion platform for prepaid crowdfunding
- Tracking of credits between businesses and supporters
- Accounting and balancing of cross-recognition of Credibles between participating businesses
- Redemption service for prepaid crowdfunding