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Wipit Brings Omni-Payment Functionality to its Prepaid Cash Mobile Wallet

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Wipit’s mobile wallet just got even handier.

The company unveiled this week omni-channel payment technology that will enable Wipit mobile wallet customers to use their prepaid cash mobile wallets to make payments at the retail point-of-sale, as well as online.

Wipit CEO Richard Kang said, “Omni-payments is a natural extension of our mobile wallet and will allow merchants to provide more options and better payment experiences to their customers.”
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The new features expand the range of payment choices for consumers using Wipit’s network, which includes a branded GPR (general purpose reload able) card and in-app services. Brick and mortar retailers benefit from the wallet’s POS payment feature. Online merchants can take payments from consumers who may be unable to make digital payments through other means (for example, credit cards). There is also the advantage of merchants of avoiding interchange fees when transacting via Wipit.
The technology is designed to be easy to implement. Merchants have the option to deploy point-of-sale payment features via closed-loop payment cards, in-app barcodes, or NFC.
Wipit was founded in 2010, and is headquartered in Pasadena, California. The company demoed its Boost Mobile Wallet at FinovateSpring 2014. See Wipit’s live demo here.