May 21, 2013
Boost Mobile Customers No Longer Need to Carry Cash with Launch of Boost Mobile Wallet
Boost Mobile Wallet powered by Wipit provides convenient and affordable mobile financial services
IRVINE, Calif. (BUSINESS WIRE), May 21, 2013 - Boost Mobile, a leader in the no-contract wireless industry and ranked “Highest in Purchase Experience among Non-Contract Wireless Providers” by J.D. Power and Associates1, today announced the availability of Boost Mobile Wallet powered by Wipit, an industry-first mobile solution that allows Boost Mobile Android-powered smartphones to serve as a cash-based vehicle for accessing cost-effective financial services.
According to the 2011 FDIC National Survey of Unbanked and Underbanked Households, more than 20 percent of U.S. households rely on alternative financial services to help with their banking needs. Boost Mobile Wallet is a full-service virtual wallet account that enables consumers to:
- Load cash to the wallet account at Boost Mobile authorized retail locations
- Send money to more than 135 countries
- Pay more than 3,500 billers nationwide
- Top-up domestic and international prepaid wireless accounts
- Transfer funds instantly between accounts
- Load checks directly from the mobile phone with instant access to approved funds (coming soon)
Customers are also provided a reloadable Visa prepaid card that is personalized and linked to their Mobile Wallet account for ATM access and the ability to spend anywhere Visa debit is accepted nationwide.
On a typical pay day, a Boost Mobile customer might stand in line someplace to cash their paycheck; visit an authorized Boost retail location to add money to their wireless account; and then stand in more lines at multiple locations for money transfers and bill payments, often paying high fees to process these transactions. Boost Mobile Wallet eliminates all the extra stops by enabling access to the same financial services directly from a Boost Mobile phone, in a safe, easy and affordable manner.
“The prepaid segment is continuing to grow, and consumers’ use of alternative financial services is on the rise,” said Kevin McGinnis, vice president of product platforms and services for Sprint, which owns Boost Mobile. “The Boost Mobile Wallet service is the perfect platform to deliver these services to our customers in a more convenient and affordable way. This program is also a great business opportunity for our retail and distribution partners. With increased foot traffic in the door and a compensation structure for participation, the program is a win/win for everyone.”
The Boost Mobile Wallet application is available as a free download at the Google Play Store, and the service is available now at select authorized indirect retailers in markets that include Los Angeles, San Diego and parts of New Jersey. A national rollout starts this summer and continues through the end of the year. For more information, visit the Mobile Wallet site at https://boostmobile.wipit.me/.
About Boost Mobile
Boost Mobile offers wireless phones and services with no long-term contracts. Boost Mobile redefines value for wireless consumers with its Monthly Unlimited with Shrinking Payments no-contract service, where the longer you stay the less you pay with on-time payments for unlimited voice, text messaging, Web, email and calls to 411. Boost Mobile offers nationwide service on the Nationwide Sprint Network, reaching more than 278 million people, with no activation or long-distance fees. Boost Mobile offers a selection of quality handsets from BlackBerry, HTC, Kyocera, LG, Motorola and Samsung, ranging from entry-level to Android™ smartphone devices available nationwide at nearly 20,000 major retail stores, including Best Buy, RadioShack, Target, Family Dollar, Walgreens and Walmart, Sprint retail stores, independent wireless dealer locations, and on HSN, a leading TV home shopping network. Re-Boost® Cards are available at approximately 100,000 locations throughout the United States. Experience Boost Mobile on the Web at Facebook and Twitter; and purchase products at www.boostmobile.com.
About Wipit Inc.
Wipit is a mobile payments venture focused on serving unbanked and underbanked consumers. Wipit provides to these consumers a mobile wallet application and an integrated Visa prepaid card. Consumers can use the mobile wallet application to pay directly for such financial services as international money transfer, bill payment, and prepaid mobile replenishment. Wipit is strategically partnered with and invested in by Euronet Worldwide (NASDAQ:EEFT). For more information, visit www.wipit.me.
1 Boost Mobile received the highest numerical score among non-contract wireless providers in the proprietary J.D. Power and Associates 2013 Non-Contract Wireless Purchase Experience StudySM – Vol. 1. Study based on responses from 3,533 consumers measuring 7 non-contract wireless providers and measures opinions of consumers who purchased a wireless product or service within last 6 months. Proprietary study results are based on experiences and perceptions of consumers surveyed July-December 2012. Your experiences may vary. Visit jdpower.com
Danielle Babbington, 949-748-3418