Checking out cloud wallets
CardinalCommerce and Unbound Commerce have rolled out a cloud wallet service for online merchants. The cloud wallet service from Unbound Commerce scheduled for release in July leverages Universal Wallet APITM from Cardinal to offer a single point connection to several leading digital wallets.
The two companies have combined resources to address one of the biggest obstacles mobile purchases has: thumb-typing through checkout. Mobile retailers can use the cloud wallet service to accept any kind of cloud wallet their customers wish to use. The service supports PayPal, Amazon, Google Wallet, V.me by Visa, MasterPass by MasterCard, Payfone One Touch Checkout on Verizon devices and Sprint Mobile Wallet.
"Our two companies know we can deliver solutions to streamline mobile checkout. Unbound's cloud wallet service will make it easy for retailers to accept the online wallet of their buyer's choice," said Unbound Commerce VP and co-founder Keith Lietzki. "Based on studies, we expect to deliver 20-40% gains when retailers can accept the cloud-based wallet that works best for their individual buyers."
"Mobile can be the linchpin to retailers' omnichannel strategy," added Lietzke. "Mobile is often non-transactional when it is mainly used to support other channels. But when the consumer has the impulse to purchase, the retailer must make the mobile purchase as quick as possible. Cardinal was an obvious partner for us once we understood the scope of their transactional capabilities. They have taken a big lead in support for this powerful new class of online wallets."
"The payments industry is in the midst of a transformation giving consumers unprecedented options from their banks, phone companies and e-commerce leaders," said Cardinal EVP Tim Sherwin. "A partnership with Unbound was attractive because it helps further our mission of normalizing payments through a single integration with little to no effort or time on behalf of our customers. Cardinal's existing Centinel merchants can leverage the framework already in place to easily add the universal wallet API, effectively future-proofing their business so they are prepared for whichever services do take off."