With the cashcloud eWallet the users are able to settle their payments in a simple and mobile way. The money transfer is done in real time and without cost for private users. Money can be easily send by using social networks like Facebook or Twitter, which is in particular attractive for young users.
The company is also issuing its users with a cashcloud prepaid MasterCard® PayPass™ NFC sticker containing an NFC chip that will be linked to a virtual MasterCard® account.
Another innovative highlight are “cashcredits“, cashcloud’s own virtual currency. While being part of the cashcloud scheme, the user is able to collect cashcredits via Social Media interactions and swap them for real eMoney or use them to make payments.
To provide a secure service to the young user-base cashcloud offers a parent account. Parents open a cashcloud account for their youngsters and transfer pocket money to the electronic smartphone wallet. Thus, they have control over the account and the spending of their children.
The option “deals and offers” is implemented already in Germany and soon in Spain. This function is providing the users personalized and localized coupons and vouchers direct to their smartphone.
Additional options will become available in the near future.
The scope of the eWallet, which already exists is extensive – you can:
Easily login using the Facebook or Twitter ID or email address
Send, request and receive money in real time without any fee involved – neither for the sender nor the receiver.
Earn money by inviting friends to cashcloud or share transactions in social networks. Users will be rewarded with the virtual currency, cashcredits. The cashcredits can either be used to pay for goods and services online or be converted into real money.
Save money by getting the best deals, offers and coupons direct to the smartphone.
Pay offline contactless with the cashcloud MasterCard® PayPass™ NFC sticker at retailers and merchants
Pay online in online shops with the cashcloud eWallet or virtual MasterCard®, which comes with the NFC sticker
Constant control by managing the account, balances, transactions and personal settings via the mobile phone or web – anywhere, anytime
Youth solution (Parental Control) Parents can open a supervised sub-account for their children allowing them to know exactly what their children spend their pocket money on.
Some of the functions are still in the improvement stage and will be extended. New functions like mobile top up are still under development. As well, we are engaged in constant research to implement new function as requested by the market.