Sprint (Overland Park, VA, USA) recently announced the upcoming launch of Sprint Mobile Wallet, a way to buy physical and digital products using a Sprint phone. Sprint claims Mobile Wallet is simple and secure, and will make it easier for developers to monetize their products.
"This is the first mobile payment solution of its kind from a U.S. carrier. It allows customers to use a universal PIN to make purchases using their Visa, MasterCard and Amazon Payments accounts along with other payment methods, directly from the handset," the company said. "There’s no need to enter credit card information with every purchase, customers simply select Sprint Mobile Wallet at checkout, enter their PIN, and choose their payment method or account from those saved in the Sprint Mobile Wallet."
Sprint partner CardinalCommerce will host the secure transactions. Once a customer enters his or her PIN, it is encrypted and sent to CardinalCommerce, whose technology enables the transaction between the customer and the merchant.
Thousands of merchants already use CardinalCommerce for online payments and would have the option to easily accept Sprint Mobile Wallet too. Merchants who plan to accept include SkyMall, Gameloft and Namco, with more to be announced soon. Sprint Mobile Wallet will be available on a variety of Sprint devices and can be used at no additional charge by customers on an "Everything" data plan.
The service will launch in mid-November. Initially, Sprint Mobile Wallet will be available to download through Sprint Zone. In 2011, it will be preloaded on many new Sprint devices.
The implications are especially significant to the developer community. According to Sprint "the service allows developers to set up commerce with only a single integration to the Sprint Mobile Wallet service, avoiding the need to integrate directly with each payment company. Once integrated, developers and merchants generally can provide a simple purchase experience to most any Sprint subscriber without the need to fill forms and input payment data. Developers can also use Sprint Mobile Wallet within their apps and take advantage of another way to monetize their apps outside the controlled walls of an app store."