LEAWOOD, Kan.--(BUSINESS WIRE)--
Euronet Worldwide, Inc. (NASDAQ: EEFT),
a leading global electronic payments provider and distributor, today
announced the upcoming launch of "wipit," a mobile payment service
available via Google Android or Apple iOS smart phone applications. The
service provides consumers a single-click purchase experience for mobile
ecommerce purchases via wipit accounts, which are funded with prepaid
cash or a credit card. While users can choose to link a credit card as
their account payment method, the offering is focused on enabling
cash-preferred consumers to participate in mobile payments and in-app
purchases.
With the explosion of smart phone applications and the rise of mobile
commerce transactions, particularly the growth of mobile payments within
a smartphone application, there is a need for cash-preferred customers
to have a convenient payment method.
"Prepaid gift cards and credit cards do not address all the needs of the
smart phone application user," said Kevin Caponecchi, President of
Euronet Worldwide. "Cash-preferred consumers need more flexibility and
convenience in their mobile payment options, and wipit addresses those
needs."
As part of a strategic partnership, Euronet entered into a commercial
processing relationship with, and an investment in, Wipit, Inc. To take
advantage of the unique cash-based service, consumers would download the
wipit mobile application, establish their account either via their
handset or on www.mywipit.com
and utilize the store locator to find a convenient Euronet-enabled
retail location to add funds to their account. The funds are immediately
available to the consumer to make in-app mobile ecommerce purchases.
Merchants and developers who accept wipit's payment option on their
mobile application or ecommerce website open a new avenue for additional
sales. The solution provides developers a method of integrating a
smartphone-optimized, single-click payment system into their Android or
iOS mobile applications. Wipit, Inc. believes that developers will play
a key role in driving innovation and mobile app revenue opportunities in
the next phase of mobile commerce growth and has created a
developer-friendly integration spec.
"The adoption rate of smart phones in the prepaid mobile market is
significant and will continue to expand in the future. Unfortunately,
without a cash payment option, the underbanked or cash-preferred
consumer doesn't have access to many features traditionally available
only through payment via a credit card. wipit is the answer that cash
consumers are looking for," said Richard Kang, CEO of Wipit, Inc.
"Euronet provides us with payment expertise, prepaid back office
processing capabilities, and a ubiquitous nationwide load network. We
are confident in the partner we've chosen to help us launch the wipit
product, and we know the prepaid consumer will get a convenient,
reliable and trusted service that opens up the mobile app experience
because of this partnership."
Developers and merchants should contact wipit at info@mywipit.com
to sign up for the service. wipit will be exhibiting at the upcoming
AnDevCon Android Developer Conference in November 2011.
About Euronet Worldwide, Inc.
Euronet Worldwide is an industry leader in processing secure electronic
financial transactions. The Company offers payment and transaction
processing solutions to financial institutions, retailers, service
providers and individual consumers. These services include comprehensive
ATM, POS and card outsourcing services, card issuing and merchant
acquiring services, software solutions, consumer money transfer and bill
payment services, and electronic distribution for prepaid mobile phone
time and other prepaid products. Euronet's global payment network is
extensive - including 12,058 ATMs, approximately 53,000 EFT POS
terminals and a growing portfolio of outsourced debit and credit card
services which are under management in 33 countries; card software
solutions; a prepaid processing network of approximately 588,000 POS
terminals at approximately 276,000 retailer locations in 29 countries;
and a consumer-to-consumer money transfer network of approximately
133,000 locations serving 133 countries. With corporate headquarters in
Leawood, Kansas, USA, and 44 worldwide offices, Euronet serves clients
in approximately 150 countries. For more information, please visit the
Company's website at www.euronetworldwide.com.
About Wipit, Inc.
Wipit, Inc. is a Southern California headquartered company founded to
provide software-based financial services solutions for the
cash-preferred customer, developers and merchants globally. The company
is managed and advised by entrepreneurs and executives in the financial
services and wireless telecommunications industry, including founding
team members of leading wireless carriers. For more information, visit www.mywipit.com.
Euronet Worldwide, Inc.
Vicki Reents, 913-271-8150
vreents@epayworldwide.com
Source: Euronet Worldwide, Inc.
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