Trending
April 25, 2024
Wallet Inc is a B2B2C SaaS platform which enables businesses to distribute innovative digital payment objects to their customers in personalized digital wallets. The Wallet Platform offers a combination of CRM, loyalty, marketing, and digital payments tools, with real-time communication to/from point-of-sale terminals onsite, and with the merchant’s ecommerce store.
Situated across multiple prominent regions around the globe, Wallet Inc. was established in 2015 by John Turnham (Founder and CTO). With 25 years of software development experience and 15+ years of developing banking systems for the world’s largest banks, John upholds a remarkable career portfolio.
The inspiration for the platform was based on a personal experience at the poker tables in Las Vegas. The original prototype was a cashless payments solution for casinos, which allowed players to stay seated and engaged in the game, by using their smartphones to buy in and re-buy at the tables. However, after bringing a functional prototype to a few casinos, John learned that a better fit for the technology was to solve more critical challenges related to marketing and customer retention strategies faced by nearly all businesses. As a result, he decided to pivot and tackle these challenges head-on. Currently, John spearheads as the CTO and is leading the company to greater heights.
Wallet Inc. offers a plethora of features and services on the platform, with each tool intended to serve a specific function for a specific industry or merchant’s needs. Every merchant is provided with a white-label digital wallet for their business as the foundation for them to build upon. This customizable digital wallet replaces the need for a custom-built mobile app for the merchant. It serves a similar purpose for the consumer, but eliminates the friction that customers experience with the launch of yet another mobile app. Businesses can then add to this foundation the features that apply to their industry and customer needs.
Wallet Inc.’s second fundamental tool in the system is a rich SMS/MMS messaging system. Since the digital wallet is a smartphone tool, it’s essential to use SMS for reaching customers on their mobile devices. Upon these two primary components, the rest of the platform provides tools that address the specific needs for customers through each phase of the B2C lifecycle. These tools are organized to help merchants appeal to brand new prospective customers, interested subscribers, existing customers, and club members with different engaging offers.
The entire suite of tools includes customer-targeted fixed-price and percentage-based vouchers, a club membership program with customizable discount tiers, a membership points system, store credit accounts, advertisement tracking tools, promo codes, QR code generators, a link shortener, a link-in-bio tool, a media gallery, a news/blog area, a live events calendar w/ smartphone integration, live chat for real-time customer support, point-of-sale terminal integrations, website integrations, roles-based access controls for managing large teams, a transaction ledger for financial auditing, detailed analytics for managerial reporting, a robust API for businesses to build upon and extend the platform, and so much more. The company also offers browser extensions, mobile apps, and desktop apps, all of which serve to bridge the gap between merchants and their customers.
“Since the Wallet Platform was developed completely from scratch, strong software engineering skills are the backbone of our company,” says John who spearheads the team. The entire company consists of approximately 30 team members, of which, about half are part-time contributors, consisting of investors, advisory board members, and industry consultants. The other half consists of our full-time employees, including software engineers, graphic designers, quality assurance specialists, sales, marketing, product documentation, and customer success talent.
With brilliant engineers working consistently on the technology, Wallet Inc has swiftly accommodated the most difficult requests from its clients. The company has also been able to accommodate unique requests as well. In such instances, it reviews the merchant’s needs on a case-by-case basis and weighs the long-term impact of accommodating their request(s). “No business is perfect in the eyes of everyone, so we do our best to stay focused on the core issues in the B2C customer lifecycle. We focus on identifying and resolving recurring issues and common problems whenever possible,” says John.
The Wallet Inc. team has spent decades building cutting-edge systems that help banks, casinos, and big-box retailers. However, they also have small business owners in their families, and have witnessed how ill-equipped the small business is by comparison. Many small businesses don’t have the resources or sophisticated tools that big businesses do, and they desperately need them to earn repeat business with customers for additional revenue. At the same time, big businesses have lost the personal attention provided by small businesses, thereby frustrating their customers who need guidance and support. These are two problems that the Wallet Platform strives to resolve.
Wallet Inc is solving the fragmented market of loyalty systems and apps on the consumer side. Currently, consumers have countless apps on their phones, with nearly one app for each merchant they like. This is not a sustainable model, as businesses fight for space on these devices. There is a better way to perform direct-to-consumer business, by consolidating the tools, features, and access points for these communications and rewards. This very notion drives Wallet Inc.’s innovation and the ongoing simplification of its tools.
To date, Wallet Inc has successfully catered to the diverse needs of its merchants across many different industries. The company will continue to do so, while also working to fully optimize the experience for consumers. To effectively serve both audiences for a mutually rewarding experience, it has set the following three goals for the future:
One innovative aspect of our platform that I’m extremely proud of, is our API. It’s advanced compared to other technology leaders. Our API allows merchants to connect their existing systems to the Wallet Platform, so they don’t need to migrate from any of their current vendors. Instead, merchants can connect an existing system (e.g. Salesforce, WordPress, Shopify site, or their PoS terminal) and in just a few simple steps, begin to immediately receive value from our platform.
This API is also used by our strategic partners. They’re able to plug in and gain many benefits from the features provided by our tools. The API is self-documenting, so when we make enhancements to the platform, all our documentation is automatically updated to reflect these improvements, and programmers can export code snippets in any programming language they choose. Since we are a team of technologists, our support for the software development community is truly unparalleled through this extremely advanced API.
