Weview Wednesday – wiWallet/wiGroup

Rowan —  October 31, 2012 — Leave a comment

Today we look at the wiGroup and their Point of Sale (POS) system that allows you to pay for in-store purchases via their mobile phones. As mobile wallets such as Pocit and mimoney grow in popularity the difficulty is finding a physical store that accepts payments has become an issue. The wiwallet solution provides an interface between providers and point of sales systems.

The wiWallet/wiGroup do not interface with the end user/customer on the street. They provide the back-end system for current wallets to be utilized at a Point Of Sale in a retail stores such Nando’s, KFC, Mugg & Bean and even clothing retailers such as Truworths. Wiwallet works behind the scenes and requires a provider to be the interface between the retailer and consumer. An example of these providers includes the likes of Pocit(Currently – as per the website).

The system would work with an integrated POS system that would be placed in a certain store and from the wallet, a unique number will be sent through the users mobile phone, as the phone accesses the wallet via USSD. This unique number can in fact be given to the cashier, which can be inserted for payment.

The wiCode platform allows retailers to integrate once to a platform (switch) and access multiple mobile payment providers and applications (eMoney, mobile vouchers, mobile coupons and mobile loyalty. wiWallet point of sale partners include Micros and Pilot, two of the biggest providers of POS services.

The service is convenient for retailers as it allows for a single interface to multiple mobile payment providers.

Pro’s:

– Reduce carrying cash

– Reduce use of bank cards or even help in the situation of bank cards not being carried in error

Con’s:

– Dependent on network access of phone’s

– Limited number of stores capable and able and there is a lack of information about which stores are currently on board(info not clearly available telephonically or on website)

In conclusion

All in all the idea sounds excellent, and we would like to put it to the test. wiWallet were happy to explain how the process works although there was little information available about current stores, which had the POS units actively using the wallets currently.

It is up to the wallet company’s who will join in as partners (e.g POCIT etc) to market this opportunity, and to take the use of wallet’s forward.

Take a look at the wiWallet site here

Advertisements

No Comments

Be the first to start the conversation!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s