Boost Mobile, Wipit offer mobile wallet to prepaid subscribers
Prepaid wireless provider Boost Mobile, a subsidiary of mobile network operator Sprint, has announced a new mobile wallet for its customers. The Boost Mobile Wallet powered by Wipit, a mobile payment provider whose services target the unbanked.
The mobile wallet will give Android-carrying Boost Mobile subscribers a cash-based source for cost-effective financial services, Boost Mobile said. Funds can be added to accounts by visiting retailers who offer Boost Mobile services.
Features of the Boost Mobile Wallet include:
- overseas remittances to more than 135 countries;
- bill payment for more than 3,500 billers nationwide;
- top-up for domestic and international prepaid wireless accounts; and
- real-time peer-to-peer fund transfers between accounts.
In the future, users will be able to use remote deposit capture to load checks into their accounts using their smartphone camera, the company said.
Along with a mobile wallet, Boost Mobile customers receive a reloadable Visa prepaid card for use at stores and for access to ATMs.
"The prepaid segment is continuing to grow, and consumers’ use of alternative financial services is on the rise," said Kevin McGinnis, VP of product platforms and services for Sprint. "The Boost Mobile Wallet service is the perfect platform to deliver these services to our customers in a more convenient and affordable way."
McGinnis also said the program is also a great business opportunity for its retail and distribution partners as it will increase foot traffic as well as provide compensation to participate.
The Boost Mobile Wallet app is free to download at Google Play and the service is available now at authorized indirect retailers in select markets. A national rollout is expected to start this summer.
Read more about mobile/digital wallets.