Suretap, Canada's Leading Open Digital Wallet, Expands Payment Options with Introduction of Virtual Reloadable Prepaid Card

Suretap's Open Wallet Is Gaining Rapid Availability on Smartphones Nationwide Just Two Months Since Introduction

TORONTO, Sept. 8, 2015 /CNW/ -- Suretap_TM/MC, a leader in open digital wallet technology, announced today a new way to pay with the launch of the suretap prepaid MasterCard. It's a secure, easy-to-use virtual prepaid card that is now part of and only available through Canada's leading open digital wallet experience, the suretap wallet. This branded prepaid MasterCard boasts a low-fee structure that rivals most debit account fee rates, and launches with a no-monthly- fee, limited-time promotional offer.

"We want suretap to meet the digital payment choices of all Canadians," said Jeppe Dorff, President of suretap. "The use of prepaid cards is growing in Canada and worldwide, and now it's part of the suretap wallet. It's time that Canadian consumers get access to their funds in real time, irrespective of where they are and what they do. With mobile wallets there is an increased opportunity to free consumers so they can focus on what matter the most - now there's no need to carry your wallet to the gym anymore."

Prepaid cards are a convenient and safe way to pay while travelling, to control expenses, for parents to teach their kids about money, and other uses.  The reloadable suretap prepaid MasterCard is ideal for tech-savvy millennials, young professionals and others who want real-time and easy access to their funds while on the go. The use of prepaid cards in Canada is expected to grow from $2 billion in 2010 to $19 billion in 2017, according to a global prepaid sizing study commissioned by MasterCard Worldwide.

The Suretap Momentum
Since introducing its new application in late June, suretap has experienced rapid growth as Canada's leading open digital wallet.  More than 180,000 Canadians now have suretap installed on their smartphones, with 80 percent of those users coming from Android. Suretap has seen that the average purchase value per transaction on the suretap wallet has increased 22% month over month, supported by a 53% increase in reload value per account. Suretap is also seeing a rise in overall purchase volume as consumers become more accustomed with mobile payments.

The Suretap Wallet
Suretap launched a new open wallet in June with broad support from leading Canadian wireless carriers, banks and retailers.  The suretap application enables smartphone users to easily make secure mobile payments with a wide range of virtual and encrypted credit cards, gift cards and now suretap's prepaid MasterCard.  Suretap will add debit cards, loyalty cards, digital coupons and deals in the not-too-distant future.

Some of Canada's leading wireless carriers such as, Bell, Rogers, TELUS, Koodo and Virgin Mobile, are now offering the suretap wallet across more than 30 Android and BlackBerry smartphones, with more smartphones and other device platforms expected to follow by the end of 2015.  Suretap has also formed a partnership with the Canadian Imperial Bank of Commerce (CIBC), offering 38 credit card options available through the suretap wallet. In addition, about 30 physical and online retailers such as SIR Corp (who carry Far Niente, Loose Moose, Reds,  and more), Cara Operations (who carry Canyon Creek, Harvey's,  Milestone's and more), Indigo, Cineplex, Forever 21, Groupon, and others have also signed up to participate in the multi-partner program and are readily available in the suretap wallet.

About Suretap
Suretap is the leading Canadian open wallet provider, with relationships spanning multiple industries and merchant categories. As a digital wallet, suretap has enjoyed significant success in the Canadian market place and is currently focused on expanding its industry relationships. Based on global security standards, suretap is focused on delivering contextually relevant local market content to the end consumer. Suretap also supports the Code of Conduct for the Credit and Debit Card Industry in Canada.

Suretap protects customer data and payment card information at a level not possible today with physical cards by securing payment card and passcode data on the smartphone's encrypted SIM card.  Customers are also protected by multiple levels of security settings in the suretap wallet and technology that has been certified by global payment networks. This certification and method of storing information on the SIM card also provides assurance to retailers and merchants accepting mobile transactions, and merchants will not incur extra costs by adopting suretap.

Ease-of-use is central to the suretap model: easy for shoppers to store bank, debit, credit, gift and loyalty cards onto a true open digital wallet and easy for retailers to accept suretap wallet payments without altering their current point-of-sale transaction processes or systems, and easy for brands to reach and engage customers with deals, savings and special offers. As an open wallet, all wireless carriers, payment card issuers, handset manufacturers and service providers alike across Canada have the opportunity to adopt the suretap wallet.

For further information please go to www.suretap.com or contact [email protected]

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SOURCE suretap

Kevin Sugarman - Globalfluency, [email protected], 408.677.4852, http://www.suretap.com