Digital Life Technologies’ GoNow eWallet “super smart” card offers an answer to the mobile payment adoption problem because it breaks through every barrier that’s slowed eWallet adoption in the US market. The GoNow eWallet card, a reprogrammable magnetic stripe card that receives commands from your eWallet via any mobile phone, is now in pilots with two customers&mdash…
Digital Life Technologies’ GoNow eWallet “super smart” card offers an answer to the mobile payment adoption problem because it breaks through every barrier that’s slowed eWallet adoption in the US market. The GoNow eWallet card, a reprogrammable magnetic stripe card that receives commands from your eWallet via any mobile phone, is now in pilots with two customers—one, a major bank; the other, a direct-to consumer eWallet issuer.
Digital Life Technologies has developed a “super smart” card that is programmed by an eWallet and can be swiped at all existing POS terminals and ATMs without any change to existing payment infrastructure or tapped at contactless terminals. The GoNow eWallet card can become any credit, debit, loyalty or stored value card in a consumer’s eWallet “on the fly.” It is easy to add cards from a physical wallet to an eWallet by means of a Magnetic Stripe Card reader that connects through the phone’s audio jack. GoNow eWallet card works on any smartphone and integrates with any eWallet by means of an API. The card includes its own secure element and a battery that lasts for up to three years. It does not require charging or a special case.
Digital Life Technologies built a secure element into the GoNow Card to give banks and technology companies with plans to launch an eWallet more options and control plus help them get to market faster. This solution gives banks and technology companies control of their data. It also removes the need for a TSM (Trust Service Manager) in order to launch an eWallet. The GoNow secure element is flexible. It can be used instead of, or in addition to, a secure element in the phone or the cloud. Whatever the secure element solution, the eWallet issuer now has a choice.
There are two additional barriers that the GoNow eWallet card is designed to overcome—branding and revenue generation. The GoNow card is white labeled and allows the company launching an eWallet to keep its own brand front and center. And, it can begin generating revenue immediately because it is easy to deploy and has universal acceptance. But the GoNow card can do even more. It can, with a single swipe, function for consumers as a coupon redemption platform.
"Our vision is to allow consumers to replace their physical wallet with an electronic wallet application on their mobile phone along with the GoNowTM eWallet card. Consumers will be able to redeem coupons by tapping the phone or swiping the GoNow Card. They will also be able to pay everywhere they shop with their mobile phone." says Doug Spodak, CEO of Digital Life Technologies.
The eWallet market is evolving rapidly and the GoNow eWallet card is poised to play a vital role. Because of all the barriers it overcomes, this product fulfills the promise of an eWallet that works everywhere to drive mass market adoption.
The GoNow eWallet Card will be commercially available by the end of Q1 2013. Digital Life Technologies is accepting volume orders now.
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