NuWallet announced it has solved the most annoying
obstacle for on-line shoppers using their mobile phone for purchases.
According to a recent survey by Adobe Scene7, easy
checkout was singled out as the most important mobile-shopping feature among
The mobile shopping
experience is greatly hindered by the difficult and time-consuming task of
entering 100+ characters of billing information using the cumbersome mobile
NuWallet has developed an application that cuts the
mobile checkout process from minutes to just a few seconds by auto-populating
all of the user’s billing information to securely complete a transaction,” said
George Hendrix, president and CEO of NuWallet.
The NuWallet app also eliminates the potential of
billing input errors, which not only frustrates the customer, but also
increases the likelihood of shopper abandonment resulting in lost revenue for
merchants,” Hendrix added.
Mobile-shopping revenue is estimated to reach $9 billion
in 2011. On-line merchants are optimizing their m-commerce shopping portals for
search and navigation; however, they stop short at the last and most difficult
step in the shopping experience which is checkout & payment process.
Secure transactions remain a major concern for online
shoppers. Unlike other payment processing systems, the NuWallet app
does not store a user’s personal information “in the cloud”, Instead,
the NuWallet application is designed to securely store personal credit card and
billing information safely within the user’s own personal mobile device.
All confidential information (name, address, credit card
numbers, etc…) are encrypted within the smart phone and/or tablet device and
can only be accessed and transmitted by entering a personalized security PIN.
Furthermore, the NuWallet app eliminates the need to register and store
personal billing information at multiple e-commerce sites. This enables
NuWallet to be the single, standard mobile payment and shopping platform.
By TelecomLead.com Team