Alternative Payment Company Catch Hosts Cocktail Party
At the Golden Swan in the West Village on Nov. 15, fintech startup payment company Catch hosted executives from across the beauty and retail industries.
Courtney Armstrong, vice president of luxury e-commerce at L’Oréal; Jen Kasper, senior vice president of media of the Americas at LVMH; Zina Zegans, executive vice president and chief brand officer at Nicole Miller; Chris Peña, global vice president of consumer technology at PVH Corp.; Wendell Brown, senior director of styling at Ralph Lauren; Samantha Yeager, director of retail supply chain at SoulCycle, and Cara Brophy, executive producer at TikTok, joined the company for cocktails and light bites.
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With just under 100 brand partners, Catch is growing quickly. Differentiating itself within the fintech space, the U.S. alternative payment company and mobile app aims to put more direct dollar rewards back into the consumers’ hands when using bank accounts or debit cards. Brands currently participating with Catch are some of the biggest names in the beauty and retail industry including PacSun, Ouai, Everlane, Rare Beauty, Summer Fridays, Florence by Mills, Soul Cycle, Kosas, Good American and Set Active.
Notably, the company’s cofounders, all friends and Stanford graduates, bring experience from some of today’s top technology companies. Both Nico Perdomo, chief executive officer of Catch, and Vijay Singh, chief technology officer at Catch, come from Affirm, while Denia Ebersole, chief operations officer at Catch, comes from Google, and Whitney LaRow, chief architect at Catch, comes from Granular.
Catch allows consumers to reap the benefits of not using a credit card. When checking out with the payment company, the processing fees payment companies that would typically be paid to credit card companies are redistributed back to the brand to pass on to consumers in the form of store credit and help build a returning customer.
What makes Catch stand out in particular is it offers equitable rewards from partner brands — with a minimum of 5 to 10 percent direct dollar rewards every time. When earning rewards, the offers are available for consumers to redeem on the mobile app’s wallet within five days of purchasing, with each merchant deciding its own rewards’ expiration period. Rewards are also available to share with friends and family.
“The younger generations are looking for alternative payment methods than the traditional credit card,” said Perdomo. “The reason why people use credit cards is because people can pay later and rack up rewards. The buy now, pay later model addressed the installment payments and at Catch, we’re tackling the rewards side.”
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