M-Retailing

British mobile wallet challenger launches with 280 merchants on board

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CloudZync, a British mobile commerce company, has launched its smart wallet, Zync Wallet, with 280 merchants already signed up to the platform. Zync Wallet eliminates the need for a physical wallet and lets consumers pay for items straight from their phones, integrate all of their loyalty cards into the app, access exclusive offers, and more. It provides merchants with a platform through which they can roll out their own customised payments, sales and promotions channels to improve and personalise interactions with customers.

CloudZync’s mission is to help independent retailers grow their businesses by forging fantastic customer relationships, and to give those customers a connected wallet that simplifies and streamlines their lives. The company’s secure, cloud-based business tools enable any business to set up, brand and manage their own loyalty and CRM schemes with ease, and then make them available to their customers through Zync Wallet.

Additionally, unlike many card schemes, CloudZync does not charge its merchants any set up fees or administration costs to make payment – and no additional hardware is required. Zync Wallet does not rely on physical credit or debit cards to make transactions. Instead, consumers pre-load money onto their Zync Wallet account via their bank account and payment can then be deducted using just their phone in a secure, closed environment, giving them more control over their finances and spending.

Andrew Smith, Co-founder and CTO of CloudZync, explains: “There’s no denying that the mobile payments industry has grown dramatically in recent years, with consumers being offered a range of new ways to pay using their smartphone or NFC ‘quick pay’ solutions. However, none of these payment options truly take advantage of the mobile technology that most consumers now carry in their hands, with most just offering another way to pay by card. It’s this lack of true innovation in how consumers make mobile payments that has resulted in a lukewarm reception thus far. That’s why we created Zync Wallet, to provide merchants with a way to send customers special offers and loyalty schemes through a mobile wallet – as well as providing them with a simple and secure way to pay using just their phones. Zync Wallet finally harnesses the power of the smartphone that most people have in their pocket, to help both the customer and the merchant.”

Zync Wallet is the cheapest way for merchants to start accepting mobile payments, with rates as low as 1p per transaction. For merchants to take advantage of the marketing and sales potential of Zync Wallet, they can subscribe to the CloudZync Business Services tools for as little as £40 per month. If a merchant uses CloudZync’s Business Services tools or offers their customers cashback options through Zync Wallet, then all transactions made through the app are free.

Mark Seddon, Co-founder and CEO of CloudZync commented: “Our mission at CloudZync is to help independent businesses and retailers to forge fantastic customer relationships. This is why we created the Zync Wallet app to give customers a complete mobile wallet, which simplifies how they can make payments and engage with the loyalty schemes or offers the business may have. For merchants, they can be reassured that they are deploying an innovative and secure mobile solution that can deliver real business benefits – without the huge price tag. Zync Wallet has initially launched only in the UK, but the service is highly scalable and we do plan to expand abroad in future.”

Merchants can download the Zync Wallet Terminal app for free from the Apple App Store and Windows Phone Store with Android to follow later in the year, which is also compatible with a wide range of point-of-sale terminals3. The Zync Wallet consumer mobile app is available to download for free from the Apple App Store and Windows Phone Store with Android to follow later in the year.

3 comments on “British mobile wallet challenger launches with 280 merchants on board

  1. Pingback: Cloudy with a chance of mobile | Zync Wallet: The Launch

  2. Pingback: New mobile wallet CloudZync comes to Windows Phone before Android

  3. Pingback: New mobile wallet CloudZync comes to Windows Phone before Android | WMPoweruser

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