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THE DIGITAL WALLET REVOLUTION

07-25-2019 05:14 PM CET | Fashion, Lifestyle, Trends

Press release from: Passfeed, Inc.

(New York, NY) July 17, 2019 — The perks of using a digital wallet are endless. You can store money electronically without having to carry cash or go to a physical bank. Most digital wallet apps also have built-in features that enable refilling and making bill payments. Digital wallets are ideal for those who want to process payments, pay their bills, and exchange money with family and friends without having to put in their bank details. They are easy-to-use, simple, and secure.

The secret to this ease of use is in the Near-Field Communication technology. NFC technology allows you to scan from your digital wallet to a merchant’s e-reader within a four inch radius. Placing your smartphone within range of the e-reader enables a prompt from your digital wallet to pop up and confirm payment without needing to physically swipe a bank card to checkout. Digital wallets are also making in-roads in cryptocurrency.

Technology giants like Amazon, Google, and start-ups like New York City-based Passfeed are becoming the primary converters for adding digital currency, including bitcoin, into their e-Commerce ecosystems. NFC technology and cryptocurrency, along with the encrypted data and tokenization, a process which replaces sensitive data with a one-time card number that is useless after purchase, means a more convenient and secure experience. However, merchants love digital wallets as well.

Many retailers and merchants, including chains like Target and Walgreens have made digital wallet payment options available within their stores over recent years. Generations of businesses--big, small, and everywhere in between-- are aware that they must keep up with consumers’ wants and needs in order to survive. Those that embrace digital wallets can enjoy a faster, more secure way to make transactions with their customers. Those that don’t may fall to the wayside, as cashless and cardless payment options will eventually be the only option that customers want.

Passfeed, “Your Social Shopping App” prides itself on being an all-encompassing digital wallet, capable of combining all these features into an easy, one-stop shopping and banking experience.

About Passfeed

Founded in 2018 by start-up entrepreneur, Richard Wang, Passfeed is reinventing online shopping. Our Fintech/eCommerce experience combines the best features of social shopping and banking. Consumers can shop, store and send money, share gift certificates and even take advantage of our Paylater service. The social sharing capabilities rewards our users with earned iPoints — which are then used to save money on additional purchases. With the motto “Never be boring” as a guide, Passfeed is the future of shopping and banking today!

You can learn more about Passfeed by logging onto www.Passfeed.com or by downloading the App for free at https://apps.apple.com/us/app/passfeed for your iOS device.

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If you would like more information about this topic, please call: Dennis Sary, Marketing Director at (929) 332-2099, or email at dennis@passfeed.com.

Dennis Sary, Marketing Director
(929) 332-2099
E-mail: dennis@passfeed.com
750 Lexington Ave 9th floor, New York, NY 10022

Passfeed, the Social Shopping App, was founded in 2018 by Richard Wang. His concept combined the business models of established businesses like Wish.com, Amazon and Aliexpress with the convenience of digital wallets. The upstart start-up provides a fully functioning shopping ecosystem where users are able to shop from 1.5 million items and, at the same time, share and obtain rewards and iPoints. The company sought to capitalize on most consumers’ frustration with the current banking and credit card fee environment. His dream was simple: people should be able to shop and share deals and savings without having to pay third party service providers a chunk of their hard earned money. This set of ideals laid the groundwork for what soon became one of the fastest growing Apps on iTunes.

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