Boston-based mobile payment and digital wallet provider PXT Payments has announced that it will offer students and merchants its mobile payment app, looped in, this weekend at College Day at Fenway Park. The company will also show off merchandise from participating merchants as it looks to entice new users from the thousands of college students who attend the event.

Looped in is an app that consumers can download to their iPhone or Android devices. It acts as a prepaid account which can be used at a number of merchants in the Boston area. Additionally, looped in users can send person-to-person payments to anyone in the U.S. using the recipient's cell phone number. 

Consumers can even pool money — either online or offline — using looped in. This means that users can send and receive funds through the app to pay for group meals or collect money for a purchase, and using the pooled resources to pay online if they choose to.

According to PXT Payments, its PIN-protected looped in app is safer than cash, debit, or credit cards and is completely free to download and use. Users can move money in and out of their looped in accounts from checking, credit card, or PayPal accounts at no cost; information from those accounts is completely safe and is not stored, captured or sent anywhere, the company said.

PXT Payments said that the benefit for merchants is that they don't need any new hardware to accept looped in. The merchant app works on any smart phone, iPod touch, or computer, integrates with POS systems, and settles through the ACH network, the company said.

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