Kasheesh Adds Mobile Wallet Feature to Payment-Splitting Platform

Kasheesh has launched a feature that lets consumers use its payment-splitting platform in physical stores.

The new Mobile Wallet Dashboard allows users to generate a one-time-use Visa card at retailers that accept mobile payments, and to split purchases between debit, credit and prepaid cards, Kasheesh said in a Thursday (April 6) press release.

“We couldn’t be more excited to get our groundbreaking technology in the actual hands of users when they need it most, shopping on the go, dealing with unexpected situations on the fly, and sharing their card number in physical locations,” Kasheesh Co-founder and CEO Sam Miller said in the release.

PYMNTS research has found that mobile wallets are an increasingly viable alternative payment method at the point of sale (POS) and online and that consumers are increasingly interested in using them to manage their finances.

Two in five consumers believe mobile wallets can replace all the items traditionally stored in physical wallets, according to “The Mobile Wallet Challenge: Replacing Physical With Digital,” a PYMNTS and ACI Worldwide collaboration.

That’s especially true among younger consumers. The report found that 51% of Generation Z consumers said that their mobile wallet can replace most of the features of their physical wallet.

Payment innovation is also seen as increasingly critical to retail stores.

Having multiple digital payment options was seen by 89% of retail executives as necessary to customer retention and growth, according to “Navigating Big Retail’s Digital Shift,” another PYMNTS and ACI Worldwide collaboration.

Kasheesh’s new mobile wallet feature joins the company’s platform that can already be used to split payment for online purchases, according to the press release.

Whether used for in-store or online purchases, payment splitting allows shoppers to maximize rewards across cards, sustainably build credit scores and reduce the cost burden on each card, the release said.

“With Kasheesh’s first in market mobile one-time use card, users can have the convenience of carrying their whole wallet of credit, debit and gift cards on the go, with the security of not bringing a single card with them,” Kasheesh Head of Product Pat Flahive said in the release. “This adds to the unparalleled flexibility that Kasheesh already offers with its proprietary payment-splitting technology.”