Wipit, a mobile payment service provider, is partnering with Punchcard , a shopping app, to provide loyalty solutions across the US (view press release). The partnership will allow business owners to create loyalty and reward programmes for consumers who use cash as their preferred method of payment. Punchard figures indicate that this represents around 60 million adults in the US and approximately 25% of all US households. Through the partnership, Wipit will allow mobile consumers to pay for purchases in mobile apps or online using cash, while Punchard rewards them for visiting their favourite stores.
Punchcard works at the checkout giving users rewards for visiting their favourite businesses and replaces the various loyalty cards people carry in their wallet. Punchcard users purchase items at participating retail stores and take photos of the receipt using the Punchcard app to verify the purchase and earn ‘punches’ for that business. Once punches have been accumulated customers become eligible for rewards.
Wipit’s service includes a single-click payment experience for mobile and online ecommerce purchases. Consumers visit retail stores to fund their accounts with prepaid cash that is made available to spend immediately.
“The explosive growth of smartphones in the prepaid wireless segment has created a huge opportunity to engage these cash-preferred consumers with loyalty programs and location-based promotions,” said Richard Kang, CEO of Wipit. “We believe that Punchcard will bring new, innovative ways to engage our consumers and the businesses that serve them.”