The Santa Barbara, California-based software company Wallet Inc. is changing the way that companies interact with their customers. Until now, businesses have relied on dozens of vendors to manage their customers’ data, with each vendor operating as an independent and disconnected silo.
These silos include the company’s social media profiles, website, blog, CRM system, revenue management system, loyalty system, email marketing campaigns, online advertising channels, and maybe their own mobile app. This has resulted in a complicated labyrinth of tools for each business to navigate, and it hinders each company’s ability to focus on their core competencies and competitive strengths.
Meanwhile, customers are trying to communicate with these businesses by phone or email, on social media, or through their website or blog, resulting in a scattered mess of tools and communications for both parties.
Wallet Inc. is approaching this problem with a new vision and fresh innovative software. By providing merchants with a specialized digital wallet platform, they can now connect directly with their customers for optimal efficiency, productivity, and profitability. Merchants simply create a free profile on Wallet’s Administrative Portal and begin connecting their existing tools and data sources.
Customers are then invited onto the platform with an SMS message. Each message contains a link to the customer’s personalized mobile wallet, which has been specially crafted for them by the business. From within the wallet, customers can easily locate their past transactions, along with redeemable vouchers, membership tiers, points, gift certificates, and creative new items like dynamic vouchers and advertisement credits, which breathe new life into these B2C relationships. Businesses can also share relevant news or upcoming events and communicate directly with customers through a private messaging feature.
Once a customer has opened their wallet, they can toggle between their favorite companies with a single click. The platform automatically surfaces all the customer’s favorite companies, by connecting directly with each merchant’s CRM system on the backend. Wallet Inc is entirely compensated by the merchants on the platform, so the public never pays a single cent or suffers through a single advertisement for access to these features.
“Sure, Apple, Google, Samsung and other companies provide some form of ‘digital wallet’, but they treat this space as a pet project. Their primary line of business is serving advertisements through search, or selling mobile devices.” says John Turnham, Founder & CTO. “They don’t see the possibilities in this space, which is why we named our company Wallet Inc. We expect our platform to be so ubiquitous that it becomes synonymous with the everyday use of a traditional wallet.”
At last, we might be seeing an end to cluttered email inboxes, overflowing home mailboxes, and the countless advertisements that we all encounter every day. For decades, businesses have benefited from many robust Customer Relationship Systems on the market, but now, Wallet Inc is changing this paradigm by providing customers with what may be the very first Merchant Relationship Management system.
We can’t wait to see what Wallet Inc delivers next.