IRVINE, Calif.--(BUSINESS WIRE)--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/.