Mobile Commerce Insider Featured Article

August 07, 2014

Wipit Adds New Mobile Wallet Services

Wipit recently added a new omni-channel payment technology to its repertoire to further assist un-banked or underbanked customers. The company is a provider of integrated mobile payments, financial services and prepaid debit card conveniences to that demographic.

The new addition allows in-app barcode payments to be made at retail points of sale (POS); it is expected to complement Wipit’s pre-existing network branded general-purpose reloadable (GPR) card, as well as in-app services and e-commerce payment options. Mobile wallet users can add cash at retail locations, set up direct deposits, or instantly deposit checks via mobile with QuickCheck. Currently, these funds can be accessed to pay for transactions in Wipit’s mobile wallet apps, or by swiping a card for payments or ATM withdrawals. With the new omni-channel service, however, users can also access those funds for retail POS or Web payments.

The kinds of service Wipit provides are next-generation solutions for all sorts of merchants—the technology is flexible enough to be implemented as each merchant sees fit, and is a natural enough extension of mobile wallet services to allow merchants to provide customers with smooth payment experiences. Online services can now also use Wipit, so that customers without digital bank access can have a means to pay for services online. Indeed, un-banked and underbanked consumers compose 28 percent of all U.S. households, according to recent research; so it seems that Wipit has a niche market to satisfy.

Wipit CEO Richard Kang said in a statement, "Omni-payment capability is the next step in the evolution of cash mobile payments… Wipit is focused not only on bringing the latest in payment technology to un-banked and underbanked consumers, but also helping to drive future innovation for them as well."

With this new innovation, Wipit is set to make mobile payments that much more convenient.




Edited by Alisen Downey



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