The partners’ technology are expected to enable merchants to issue mobile wallet applications, containing prepaid, gift and bank cards and coupons, under the retailers’ own brands. Customers have to download the apps to their smartphones and use them to pay at cash registers.
Moreover, the source reports that the first merchant wallets based on this technology are expected to be rolled out in Q4 2011. However, the partners have yet to disclose the fees to charge the merchants for their technology.
InComm has operations in 225,000 stores, including Wal-Mart Stores and Best Buy.
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