As many parts of the world move closer towards a cashless society, the benefits of using mobile phones to pay for goods are becoming clearer. Ease, security and convenience are just three of the main reasons why more people are taking up this method of payment than ever before.
One such mobile payments service is iWallet, which, for a limited time, is now rewarding first-time users with a $20 account credit – as long as they help spread the word by leaving an honest and genuine review of their service.
The iWallet app is web-based and works across all platforms, including Android and iPhone, and is completely free for customers – there are no sign-up fees or annual fee for usage. For businesses, payment processing is also free for all transactions up to $10 million a year.
This is in stark contrast to the expensive processing fees of debit and credit cards – creative a substantial saving for cost-conscious small businesses.
“The rise of the mobile wallet has really been built on reliability, security and practicality, and is mostly free to use for businesses,” says a spokesperson for iWallet, “which is why we’re so keen to shout about these benefits. Our $20 promotional offer is available for a limited time and is all about letting our customers share their own views on the usefulness of the iWallet app.
“They are under no pressure to leave a positive review – all we ask is that first-time users be as truthful and open as possible in their review. Our experience is that iWallet has proven to be a safe, trustworthy payment method for businesses and their customers, so we are confident our new users will have the same experience – equally, any issues that users flag with us will be taken on board so as to make the iWallet process better than ever.”
Due to it being web-based, the iWallet app works through all Smartphone’s and allows customers to pay for goods via a QR code displayed on the phone’s screen. This method of QR-based processing has many advantages for customers and businesses, as it is usable no matter what the level of sophistication is for a customer’s phone – while many other mobile payment services can only be accessed via NFC (near field communication), the act of scanning a QR code only requires a phone camera, which virtually every mobile phone has these days. Generating a QR code is quite simple and can be done online, and the act of displaying it is also easy for businesses – it is enough to simply print it on paper.
The iWallet app also uses the ACH – automated clearing house – method of payment because it is a simpler, faster and more secure way of making a transaction, over alternative methods such as those used by Visa, MasterCard, Amex and Discover.
“Process payments based on ACH transactions are getting a lot faster and on the verge of enabling same-day payment capability,” said the iWallet spokesperson. “In addition, there is no need for businesses to install the extra card-processing hardware required by payment methods such as Visa and MasterCard – these are just extra costs that small businesses in particular can do without.”
Any lingering concerns over security and safety in these personal data-conscious times can be put to rest, thanks to the tried-and-tested system used by iWallet. It uses Plaid, which is already used by a number of other personal finance apps, because it hides the bank details of customers from both the business and iWallet itself – personal details are encrypted within the Plaid system itself. Not even the loss of a phone will threaten this security – the iWallet app only works via the user’s personal authentication.
To sign up for iWallet and qualify for the limited time $20 account credit promo, visit their website.