PASADENA, Calif., Aug. 6, 2014 /PRNewswire/ -- Mobile payments company Wipit, Inc., announced today the development of new omni-channel payment technology designed to allow in-app barcode payments at retail point-of-sale. This technology compliments Wipit's existing network branded GPR card, in-app services, and e-commerce payment options from a prepaid cash mobile wallet.
Currently, Wipit's mobile wallet consumers can load accounts by adding cash at retail locations, setting up direct deposit, or using Quick Check, the company's instant remote mobile check deposit service. They can access these funds to pay for financial service transactions in Wipit's mobile wallet apps or swipe a network branded GPR card for payments and ATM withdrawals. Now these consumers will also be able to use their mobile wallet funds to make retail POS or web payments.
The company's payment service is aimed at mobile consumers that are un-banked and underbanked, a market segment that includes 28% of all US households, according to the FDIC 1. "Wipit believes very strongly in financial enablement for those whose needs are not met by traditional banking and payment services," 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."
Wipit's new retail POS payment capability offers a next-generation solution for merchants across many different industry verticals, including: retail stores, transit operators, fast food restaurants, and gas stations. Online retailers, gaming companies and mobile e-commerce services can also leverage Wipit's e-commerce payment capabilities to reach consumers who may not have access to digital payments.