This technology compliments Wipits existing network branded GPR card, in-app services, and ecommerce payment options from a prepaid cash mobile wallet.
Currently, Wipits mobile wallet consumers can load accounts by adding cash at retail locations, setting up direct deposit, or using Quick Check, the companys instant remote mobile check deposit service. They can access these funds to pay for financial service transactions in Wipits mobile wallet apps or swipe a network branded GPR card for payments and ATM withdrawals. Following the agreement, these consumers are also set to be able to use their mobile wallet funds to make retail POS or web payments.
Wipit is a mobile payments venture focused on serving unbanked and underbanked consumers. Wipit provides to these consumers a mobile wallet application and an integrated Visa prepaid card. Consumers can use the mobile wallet application to pay directly for such financial services as international money transfer, bill payment and prepaid mobile top-up.
In September 2013, Wipit closed a Series A venture round of funding from venture capital firm Core Innovation Capital.
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