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Wipit Enables E-Commerce Websites To Accept Cash Payments

Stocks in this article: EEFT HRB

PASADENA, Calif., July 24, 2012 /PRNewswire/ -- Wipit, Inc. ( www.wipit.me) announced today the launch of its web payment service as a complement to its existing mobile in-app payment service. Wipit's web payment offering enables e-commerce websites (including traditional web, mobile web, and WAP websites) to accept prepaid cash payments, enabling merchants to sell and market to the over 60 million unbanked and underbanked consumers in the US alone.

(Photo: http://photos.prnewswire.com/prnh/20120724/LA45115)

The web payment service offers the same convenient experience as its mobile in-app payment counterpart, which currently allows consumers to use prepaid cash to pay on Android and iOS applications. Unlike other alternative payment services, Wipit's cash payments are real-time, and do not require the consumer to visit a physical retailer after checkout to finish paying for the transaction. Instead, Wipit users load prepaid cash by visiting over 10,000 nationwide reload locations, then click the Pay with Wipit button in apps or websites to authorize payments using these preloaded funds. Merchants receive instant confirmation of payment authorization and the availability of good funds.

Two examples of online merchants who have integrated Wipit's web payment service are Canta Y Llama and Eskuche. Canta Y Llama ( www.cantayllama.com) is an e-commerce site that allows consumers to buy songs from today's top-selling Latino artists, while earning long distance calling credits with every purchase. Adding Wipit as a payment option provides their customers with the ability to pay with cash at checkout – a payment method heavily favored among prepaid, Latino consumers.  Los Angeles based Eskuche ( www.eskucheme.com), an audio equipment company that sells high quality headphones and other music, fashion, and art culture related products, now features Wipit as a payment option to offer the same benefit to their customers.

"We are excited to see merchants like Canta Y Llama and Eskuche recognize the value of Wipit's online payment offering," said Richard Kang, CEO of Wipit, Inc.  "There is an incredible opportunity for merchants to engage this massive consumer market that wants to buy online, but prefers to pay with cash, and who have been largely underserved until now."  

Consumers can create a free Wipit account via the company's website ( www.wipit.me) or Wipit's mobile wallet app (available for Android and iOS), then visit over 10,000 nationwide reload locations to fund their accounts with prepaid cash that is available immediately for spend via online or mobile.

Merchants who are interested in learning more about Wipit's web payment service should contact Vikram Kanodia, VP of Business Development at (626) 394-3996 or vikram.kanodia@wipit.me.

About Wipit, Inc.

Wipit, Inc. is a Southern California headquartered company founded to provide financial services solutions for the unbanked and underbanked consumer. Wipit's payment service enables consumers to shop online or make in-app purchases using prepaid cash payments. The company has strategic partnerships with and is invested in by global companies H&R Block, Inc. (NYSE: HRB) and Euronet Worldwide, Inc. (NASDAQ: EEFT).  Wipit's founders and management team include executives in the financial services and wireless telecommunications industry, including founding team members of some of today's most successful prepaid wireless carriers. For more information, visit www.wipit.me.

Press Contacts: Dennis WilesWipit, Inc.626-390-6580 dennis.wiles@wipit.me

SOURCE Wipit, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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