How they describe themselves: Wipit is a mobile payments company founded to provide financial services solutions for the under-banked consumer. The company was founded and is managed by some of the most successful prepaid wireless executives in the industry. Wipit’s leadership team includes John Tantum (Founder and former President of Virgin Mobile USA), Co-Founder Michael Lanzon (former Boost Mobile Vice President of Sales and Marketing), and Co-Founder Job Tucker (former Boost Mobile Director of National Sales and Distribution). Wipit CEO and Co-Founder Richard Kang held principal positions at VHA and Eureka!, leading Sprint Prepaid handset and airtime distribution companies.
How they describe their product/innovation: Wipit is a mobile payment service that allows users to quickly and easily make payments from their smartphone or online using cash. Users can create a free mobile wallet account via their handset or online (www.wipit.me) and can load prepaid funds by visiting over 10,000 retail locations nationwide. Loaded funds are instantly available to make payments on mobile apps or websites that accept Wipit as a payment option. Users authorize all payment transactions via a simple, single click payment process. Account information and transaction history can be viewed and managed from Wipit’s free mobile app or online.