Startup JustTip took home the award for Best New Tech Startup this week at the Tech Excellence Awards in Ireland.
Launched just last year, JustTip, a European tech startup founded by two 20-year-olds, is seeking to change the relationship between clients and service businesses through digital, cashless payments.
Having announced their expansion to Las Vegas just a couple of months ago, the company is forging ahead with its disruptive wireless payment technology product that’s helping businesses receive tips from their clients through smartphones.
Already playing a major role in the hospitality industry, cashless tipping is also emerging as a new revenue stream for artists and entertainers that can now receive tips from their audiences. This includes artists that are performing live streams where users from around the world can send a tip digitally to them through an app, which could be a game changer for performers as well as service businesses.
Following their award win on Wednesday, co-founder Ciara Walsh speaking with reporters at the ceremony in Dublin said, “This is a wonderful achievement for the whole team at JustTip and we are very grateful to everyone who has helped us to this point. This win is a substantial steppingstone towards our next period of growth, and we are motivated and determined to take JustTip to even greater heights.”
JustTip recently announced they had doubled their headcount as it moved to capitalize on the popularity of frictionless payments. With US digital payment transactions expected to grow 20% year-on-year into 2030, the market last year was already valued at over $68 billion.
As the relationship between consumers and businesses change, startups like JustTip are looking to integrate cashless tipping as a way for people to give back following the pandemic. With hospitality having been the most impacted sector from the downturn, cashless tipping is providing a new way for businesses across industries to generate an additional revenue stream, while fostering a community connection with their clients.
With the U.S. hospitality industry on the road to recovery, cashless tipping is also giving workers the chance to get tips at bars, restaurants and much more – providing them with an additional income source, automatically sent to their bank accounts through their employer.