This week I decided to write about Yoyo wallet. The knowledge of that kind of convergence is really beneficial, because Yoyo wallet is used as one of the payment methods at our University.
Yoyo wallet is a platform which provides a possibility to make a payment for your food or coffee via mobile phone without any additional fees. All you need to do is to match your credit card with the app and you can eat and drink without carrying the wallet, only your phone. By using the app you get some points and then win a reward — chocolate bar, soft drink or even a hot meal for free.
Yoyo wallet was launched in 2014 across 32 food and drink outlets at Imperial College London (http://www.imperialinnovations.co.uk). Since the app’s launch, the company has signed a total of 26 Universities and 40 head office corporate catering locations, and the app is being used at over 600 retail sites.
Yoyo wallet makes a transaction between retailers and consumers simpler, because it provides retailers a possibility to accept in-store mobiles payments and also captures the purchasing habitats of the customers.
Yoyo Wallet is the fastest growing and largest multi-retailer mobile wallet in the UK and recently won Retail Systems’ 2015 Mobile Technology System of the year (http://uk.reuters.com).
Some people believe, that we will all use our mobiles to pay in the end.
What do you think about the future of mobile payments? Are we entering a cashless future?