Sionic Mobile and Customer Engagement Technologies (CET) are partnering up to provide a mobile payment app for the underbanked, according to Finextra.
CET’s mobile app, PaySwag, is integrating Sionic Mobile’s ION Commerce Engine (ICE) to enable the underbanked to load cash into a mobile wallet so they can use their phones to make purchases and pay bills. The app will also utilize credit and debit card processing through J.P. Morgan Chase.
In addition, users can earn instant rewards via the Mobile Rewards MarketplaceTM, which includes more than 100,000 retail locations. The app uses a secure cloud-based service on mobile devices or on a merchant’s existing point-of-sale system, so there is no need for new equipment.
“We are pleased to partner with Sionic Mobile to provide the underbanked with a universal, user-friendly rewards program,” said Max Haynes, CEO of Customer Engagement Technologies. “The underbanked are also under-rewarded, and until now there really haven’t been any mobile loyalty or incentive programs. The Mobile Rewards MarketplaceTM is unique in that there are no cumbersome requirements and restrictions on when and how the rewards can be used, no expiration dates; and, most importantly, users can earn and spend rewards at any of the retail locations in the Marketplace, nationwide. Like Sionic Mobile, we designed PaySwag with the user experience first and foremost, and integrating with the Marketplace boosts the value we are able to offer app users.”
PaySwag is integrated with more than 17,000 retail locations accepting cash payments and allows users to make on-time payments for auto loans, medical bills and government fines.
“Our Mobile Rewards MarketplaceTM is simple in design, making it easy to navigate, but built on proven technology, delivering powerful results,” said Ron Herman, CEO of Sionic Mobile. “By providing instant rewards to app users, the Marketplace helps drive adoption and usage of apps like PaySwag, better engages current customers and helps attract new users. We are pleased to work with the Customer Engagement Technologies team to fill a void in the market by offering a feature-rich rewards program to a large and typically underserved market.”