Woof-Wallets Issued by PetSmart Leverage RFID-(O) Technology and Are Accepted at 5 Million U.S. Merchants
PetSmart announced today that it launched a ubiquitous payment network that leverages the chip technology embedded in dogs to locate them if they are lost. This unique adaption of contactless “go tags,” which use RFID-(O) technology, enable pet owners to use their dogs as payment devices at all physical points of sale in the United States and certain European countries. These Woof-WalletsTM issued by PetSmart are linked to underlying credit and debit accounts, creating a “one-paw” payment experience for customers and their dogs wherever they like to shop.
All of the more than 5 million merchants in the United States can accept this payment technology today; leveraging open platform technology that enabled POS integration “in the cloud” literally overnight. Since there are approximately 80 million dogs in the United States that are now automatically enabled with this technology, WoofWallets is one of the largest payments networks in the world.
PetSmart leveraged a successful pilot program that has been quietly deployed for the last year in France – a nation known for its love of dogs and for also allowing dogs in most establishments, including restaurants. The consumer convenience of being able to combine a walk with Fido with a stop at the local café or Marché without having to carry a wallet was the genius behind this payments innovation.
Says PetSmart payment executive Jacque Chien (pictured), “It is a real hassle to take a wallet when out walking with your favorite canine companion. WoofWallets leverage technology that keeps dogs safe and owners from having to figure out how to hold a leash in one hand and fumble with a purse or a wallet to pay for things at the point of sale with the other.”
This payment technology also does not require merchants to replace existing point of sale equipment. PetSmart is subsidizing the distribution of dog water bowls that have RFID-(O) reader capabilities embedded at the bottom.
“These bowls are less than $5 per merchant and serves a dual purpose,” barked Chien. “Dogs can quench their thirst, and at the same time, they pay for whatever their owners have purchased in that store. It is a subsidization strategy that gets the most important part of the platform onboard – the dog.”
Vets have seen a boon in their businesses too, as dog owners rush to have WoofWallets embedded in their pets. Animal shelters report that adoptions are on the rise, as people now see the great value in adopting dogs and getting a convenient, new payments alternative in the process.
Financial and industry analysts applaud this move. “We’ve been saying for the last five years that in five years, more than 50 percent of all transactions will be done via contactless. This is the ignition strategy this technology needed, and thank goodness that PetSmart stepped up and made it happen. It just goes to show that innovation in payments can come from places you least expect it,” says J.D. Leash, industry analyst and dog lover (and owner).
(The views and facts in this article are 100% fabricated in honor of April Fools!)
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