The mobile e-wallet industry has grown exponentially in recent years, reaching $100 billion USD in 2017. Analysts expect that growth to continue and for the industry to reach an impressive $250 billion by 2024, propelled by enticing cashback offers and attractive discounts.
One company that has created an impressive digital wallet that comes with all the bells and whistles is LiteLink Technologies Inc. (CSE:LLT) (OTC:LLNKF). The company recently announced they are launching the closed beta of its uBUCK Pay App, a digital wallet and payments platform that serves as a payment alternative for consumers and merchants.
But uBUCK Pay is so much more than just a digital payments platform.
The uBUCK platform allows customers to make online purchases at supported merchant stores, bars, and restaurants, cash withdrawals at ATMs and send transfers around the globe within seconds without any transfer fees. And now, thanks to a strategic partnership with Datable Technology Corp. (TSXV:DAC) (OTC:TTMZF), it gives them the ability to earn rewards for purchases and payments made within the uBUCK Pay digital wallet or on their uBUCK Mastercard.
uBUCK Pay and Datable Integrated Loyalty Program
uBUCK’s partnership with Datable will see uBUCK integrate Datable’s loyalty and rewards program PLATFORM³ into uBUCK’s digital payments platform, with will reward customers for purchasing, viewing content, sharing content via social media, referring friends and completing surveys.
Datable provides consumers of Fortune 500 brands with access to over 300 digital gift cards from leading retailers like Starbucks, Target, and Walmart.
The partnership also stipulates that the uBUCK prepaid credit card will be featured as a prepaid cash credit card reward for consumers to purchase with their points on Datable’s client’s portals.
Serving the Unbanked and Underbanked
Another feature that sets uBUCK Pay apart from the competition is accessibility. Unlike other digital wallets, uBUCK offers a distribution method that is unique in the digital payment space and allows uBUCK to serve the underbanked community in North America. According to statistics, 32.6 million Americans and almost 6 million Canadians fall into this category.
uBUCK partnered with US prepaid platform, PreWay to give its customers the option to purchase uBUCK vouchers in cash at nearly 7,000 convenience stores across the US.
Having the option to use cash to buy uBUCK vouchers in-store will mean those who are unbanked and underbanked don’t have to wait in long lineups to pay their bills. What’s more, being able to load up a prepaid Mastercard will give them the chance to make online purchases that they wouldn’t have been able to make otherwise.
Moving forward, uBUCK plans on rolling out its service to Southeast Asia, where only 47% of the population have a bank account and in the Philippines where 77% of the population is unbanked, according to a recent survey by BSP.
Bringing Payment Solutions to the eSports Industry
uBUCK will also be catering to the ever-growing eSports gaming industry with its second brand, Streambucks, a seamless, secure payment solution that is catered specifically to Egamers.
This new service will see uBUCK Tech sponsor egaming tournaments and provide prize pools in the form of Streambucks.
What’s more, Streambucks can be used to purchase products in the Streambucks marketplace, send payments around the world for free or convert into US dollars to load a prepaid debit card.
Offering Record-Breaking Transaction Speed
As mentioned, uBUCK Pay allows users to send transfers within seconds. This is because uBUCK is the world’s first US dollar-backed stable token that was built on Waves, the world’s fastest blockchain platform.
The Waves network recently set a blockchain speed record for maximum transactions per day and processed more transactions in 24 hours than any other open blockchain in existence, meaning uBUCK customers can send and receive funds faster than competing digital wallets and payment transfer services.
“We are extremely proud to be the first ever asset-backed stable token on the record-breaking Waves platform running a digital wallet and payment platform,” said President and CEO of uBUCK Tech James Youn.
uBUCK Pay – A Highly Secure Payment Solution
In a world where privacy has become almost non-existent, security is essential when it comes to protecting our funds. Decentralized apps like uBUCK Pay can speed up money management, transfer, and lending by eliminating middlemen and enhance security.
uBUCK Pay runs on a P2P network of computers rather than a single server or a centralized cluster of servers. uBUCK Pay also offers multi-factor authentication, biometric and device verification, SSL encryption and Mastercard SecureCode to ensure the highest level of security.
No Transfer Fees
Last, but definitely not least, uBUCK Pay doesn’t charge transfer fees to send funds to family and friends around the world.
Anyone who has used services like Western Union or PayPal knows there are hefty fees associated with sending money out of the country. What’s more, these services can take days to three to five business days to send your funds.
With the uBUCK Pay app, you can send transfers all around the world without paying any transfer fees. All the recipient has to do is sign up for the app and the funds will be sent to them instantaneously.
Considering that an estimated $625 billion was sent by migrants to their home countries in 2017, $148 billion of which came from the US alone, it is evident that services like uBUCK Pay would benefit a lot of people.
LiteLink’s share price has reacted favorably to all of the recent news surrounding its uBUCK Pay app. The company’s share price jumped to $0.15 USD on the OTC Monday morning, before settling back to $0.13 USD, up 4.08%.
Featured Image: LiteLink Technologies