Under the agreement, Wipit is set to allow mobile consumers to pay for purchases in mobile applications or online using cash and Punchcard makes it possible for these consumers to get rewarded for their loyalty. In order to get rewarded, consumers who shop at local retail businesses where Punchcard is used need to take a photo of their receipt with the Punchcard application to verify their purchase and earn “punches” on a punch card for that business. By accumulating the punches, consumers earn free rewards or cash back for being loyal customers of that business.
In recent news, Wipit has entered an agreement with financial services provider H&R Block Bank to provide mobile commerce services to underbanked consumers.
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