Wipit, Inc.
Location: 23 E Colorado Blvd., Suite 203, Pasadena, California, United States, 91105, United States
Founded in: 2010
Stage: Beta (public testing)
Number of employees: 16-30
Funding history:
- Date: 11/2011, Seed: undisclosed amount (post valuation: undisclosed amount).
- Date: 08/2011, Seed: undisclosed amount (post valuation: undisclosed amount).
- Date: 10/2010, Seed: undisclosed amount (post valuation: undisclosed amount).
Profitable year: 2012
Short URL: vator.co/wipit

Wipit, Inc.

simple, quick, mobile payments for everyone
Startup/business
California, United States United States
http://www.wipit.me

Wipit is a mobile payments venture focused on enabling mobile payments for cash-preferred (aka unbanked or under-banked) consumers.

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Company description

Wipit is an early-stage venture in the burgeoning mobile payments industry focused on enabling the cash-preferred consumer to make mobile e-commerce transactions.  In the US alone, there are over 42.2 million under-banked and un-banked households and a rapidly growing number of over 50 million prepaid mobile-phone subscribers.  Mobile e-commerce revenues are projected to grow at a rapid pace to quickly rival traditional e-commerce figures.  Wipit is strongly positioned to take advantage of these two disruptive global trends with a highly successful team that includes the Founder and former President of Virgin Mobile USA and former VP of Sales & Marketing of Boost Mobile USA.

 


Team
  • Richard Kang
    Richard Kang | Team member
    Richard is a seasoned executive with over 10 years of wireless telecom industry experience.  Previous to his current role as CEO and co-founder of wipit, Richard was an equity partner at VHA and Eureka Revenue Inc. (Eureka!), where he ca...
Business model

wipit will charge a small “percentage-of-transaction” based fee to the Merchant or Developer similar to those charged when merchants accept a credit card transaction. 

Competitive advantage

wipit has partnered with Euronet Worldwide (NASDAQ: EEFT) to utilize their global network of tens of thousands of prepaid reload locations and to leverage their global sales relationships which will enable them to scale rapidly and with a high degree of cost efficiency.  In addition to our Euronet partnership, the wipit leadership team possesses  in-depth expertise and a proven track record in providing consumer branded mobile services to the cash-preferred consumer segment.  This unique knowledge, passion, and talent is expressed in every fine detail of our branding and product design.