Tech World Buzzing With Mobile Payment App Cover, Should They Care About Cover.com?

Cover Site

The tech world is buzzing today about new mobile payment app Cover which launched today in New York City. For many people Cover is a dream come true, pay your bill at a restaurant without waiting for the bill. It might feel like you’re “dining and dashing” at first but in the end it should help make restaurants more efficient and let’s face it, as consumers we’ve been waiting for this for a while now.

When asked about the market opportunity, Cover co-founders told Venture Beat:

“Mobile payments is an enormous opportunity but hasn’t taken off in the U.S.,” cofounders Andrew Cove and Mark Egerman told VentureBeat. “Mobile payments products thus far haven’t provided a better experience than using a credit card. We are the first mobile payments product that improves the overall customer experience. We don’t just replace one form of payment with your phone — we completely eliminate the payment step altogether.” (Read more at http://venturebeat.com/2013/10/01/cover-launches-in-nyc-to-let-you-pay-restaurant-bills-with-your-phone/#pOMJMkHtxm5kejSB.99)

The mobile payment space is still in its infancy and I am still always amazed that companies like Pay Pal have not moved faster to get traction in this space. That being said it’s hard, changing the way people and restaurants work takes a lot of time. That being said, I think the founders of Cover hit the nail on the head with the concept of eliminating the payment step altogether. It has to be easy, really easy, and it sounds like they have done just that.

Now for the question that I posed in the title, should Cover care about Cover.com?

While most Domainers might immediately say, “Of course! Their company is called Cover, they should own Cover.com.” I think it’s not really necessary. This is an app and people look for apps in their respective app stores. Vine was able to get record-breaking download and engagement numbers and they didn’t care about Vine.com, why should cover care about Cover.com?

That’s the million dollar question and one that I’m sure Cover is asking themselves right now. While I could see them moving to cover.co or similar since PayWithCover.com is a bit long, taking the leap to the .COM just might not be in the cards.

The world is changing. If it was 2001 I’d say they need Cover.com because back then all you could build was a website. Now app-makers around the world need to decide what value they place on a domain name. While I do think they should have some form of a “cover” domain, i.e. cover.co, cover.me, etc. I’m not sure they need the .COM.

What do you think? I have a pretty even split of Domainers and Startup people that read my blog so I’m very interested to hear what both sides think! Comment and let your voice be heard!

{ 7 comments… add one }

  • Logan October 1, 2013, 1:03 pm

    I don’t know for certain, but Digimedia (the current registrant of Cover.com) certainly has a nice portfolio of names. As Cover spends millions of other people’s money on marketing its app, Digimedia is sure to benefit from the type-in traffic to Cover.com as consumers seek out the app to download and/or more information on it. Meanwhile, the value of Cover.com should increase as more and more consumers become aware of the brand “Cover” through Cover’s advertising. I don’t think the current registrants of cover.co or cover.me will benefit as much as Digimedia will.

    Reply
  • John October 1, 2013, 1:27 pm

    You never “need” a prime property to operate a pizza shop and be successful, but it sure helps being on main street if you want to go for a grand slam.

    What happens when you want to do national advertising to promote your Cover app? Do you really want to promote Apple.com/Cover or wherever it is located, or do you want to have a cleaner identity like Cover.com?

    More importantly, what happens if, for example, a competing service comes out with “Quick” app and buys the Quick.com domain and then promotes it on the Superbowl?

    Now what will the Apple.com/cover do about it?

    It’s a must for any serious biz, including apps. Vine would be even bigger if they had the domain, in my opinion.

    Reply
  • Joe October 1, 2013, 3:53 pm

    Well , the name is a bit long in fact, cover.com is easy to remember and have many years and the sale price may be too high to me, because who stand behind this application is a company that can allow any price.
    Although you can make the name easier and reduce the current sentence in one of the existing smaller and ” cover” as now exists .
    If you are interested already know my email.

    Reply
  • owen frager October 1, 2013, 5:18 pm

    Apps in Apple store live in a walled garden. Pages don’t get indexed in Google. And searching in the APP store usually brings up a ton of irrelevant results as paid poop gets featured before captive eyeballs. Many times people search to see if an IPhone APP is available as android. But if they search for cover they will get bed sheets and containers.
    Therefore in this case, when you look at the size of the market, and the meaning of the name already deep in the hearts and minds of patrons, I’d say Cover.com is key. Cover.Me will work as second best and should be held as well.

    Reply
  • Cover Boy October 1, 2013, 5:32 pm

    I own the domain name CoverBoy.Info and would be willing to sell it for $99. Any takers?

    Nah, I thought not.

    Your initial instinct was correct. Always stick with .COM. The App company ABSOTIVELY POSOLUTELY needs to acquire Cover.Com …or die. Those are their only choices.

    Kudos to Digimedia for their foresight.

    Reply
  • Louise October 2, 2013, 4:33 pm

    Cover should own Cover.com, because it is a financial company, and a better dot com confers authority. Sorry, no .me or .co for this company!

    Reply
  • Kassey October 2, 2013, 7:12 pm

    AdTrap, a wonderful hardware product to block out unwanted ads, operates on GetAdTrap.com. So, in a similar way, I guess you can buy GetCover.com or so some cheap names if you want to remain just a local store. Cover.com is the way to go if you want to grow into a national or even international brand.

    Reply

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