Mobile Wallet FAQ
Q: What is a Mobile Wallet?
A: The term, “Mobile Wallet” refers to the combined technologies that allows consumers and business owners to use their smartphones to do things like:
- Pay for online purchases
- Make in-store purchases
- Manage credit & debit cards as well as checking & savings accounts digitally
- Purchase for digital content
- Receive offers, coupons & specials
- Manage rewards or customer loyalty cards
- Set up automatic transfers or cash-loads for business purposes
- Transfer funds rapidly & inexpensively between other Mobile Wallet account holders
Newer phones and mobile devices that feature NFC (Near Field Communication) technology can allow Mobile Wallet users to “bump” their device for tap-to-pay payment processors.
Mobile Wallet technology allows convenient, secure and integrated online and offline payments. BusinessInsider.com forecasts that there will be over 34 MILLION proximity mobile payment users by the end of 2015 and 48.1 MILLION users by the end of 2016!
Mobile Wallet Frequently Asked Questions (Continued):
- Q: How do I get an account?
A: Many cellphone providers offer these accounts. Boss Wallet offers a free solution with a mobile website as well as a free account that can be managed by going to MyBossCellular.com and using your phone number and password to log in.
- Q: As a cellular store owner, why would I need a Mobile Wallet account to do business?
A: Boss Cellular uses this technology to allow dealers to pre-fund their accounts for wholesale purchases. Instead of making a sale using “dealer bank” and then waiting allowing the company direct access to your business bank account, to take any amount their system thinks you owe them, (exposing you to huge financial risk) – We use the Boss Wallet system.