The ION Local m-commerce platform enables banks and credit unions to monetize mobile banking and address the threat of losing market and mindshare to non-bank providers.
Consumers download the free ION Rewards app, link it to their bank account, credit/debit card or Dwolla account, pay with their phone at any ION merchant and get paid 1 percent of the checkout amount in IONs.
In order to pay at checkout with ION, consumers need to enter a payment amount and ION presents a bar code on the phone. Merchants without barcode scanners use their phones or tablets to validate the payment and present a confirmation message on customers’ phones.
The ION Rewards application uses Dwolla payments to allow consumers to earn digital ION rewards by paying with their phones at ION merchants. The application also allows users to connect with friends and share extra rewards when any of their connections use ION, as well as sign up favourite places. The application is available for iOS and Android mobile devices.
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