Stage: Revenue generating
Number of employees: 16-30
Investors: Kathleen Utecht
Wipit is a mobile payments venture focused on enabling mobile payments for cash-preferred (aka unbanked or under-banked) consumers.
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.
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.
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.