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The digital wallet industry has grown exponentially in recent years, reaching $100 billion USD in 2017. Analysts expect growth to continue, reaching a whopping $250 billion by 2024, propelled by attractive discounts and enticing cashback offers.
One company that has created an impressive mobile wallet that offers a ton of great features is LiteLink Technologies Inc. (CSE:LLT) (OTC:LLNKF). LiteLink just announced the closed beta launch of its uBUCK Pay App, a digital wallet and payment solution that serves as a payment alternative for consumers and merchants.
But uBUCK Pay offers much more than any other digital payments platform.
The uBUCK platform will allow customers to make online purchases at supported bars, stores, and restaurants, and customers will also be able to withdraw cash at ATMs and send transfers around the world within seconds without having to pay any transfer fees. And now, following a strategic partnership with Datable Technology Corp. (TSXV:DAC) (OTC:TTMZF), the service gives customers the ability to earn rewards for payments and purchases made within the uBUCK Pay digital wallet or with their uBUCK Mastercard.
uBUCK Pay and Datable Integrated Loyalty Program
uBUCK will be integrating Datable’s loyalty and rewards program PLATFORM³ into its digital platform to reward customers for purchasing, viewing content, referring friends, sharing content via social media, and completing surveys.
Datable provides consumers with access to over 300 digital gift cards from leading retailers like Starbucks, Target, and Walmart. The partnership will also see uBUCK prepaid credit cards added as a prepaid cash card reward that consumers can purchase with their points on Datable’s client’s portals.
Serving Unbanked and Underbanked Communities
Another feature that sets uBUCK Pay apart from the competition is accessibility. Unlike other payment solutions, uBUCK Pay offers a distribution method that isn’t found elsewhere in the digital payment space, allowing uBUCK to serve the underbanked community in North America, which accounts for nearly six million Canadians and 32.6 million Americans.
To better serve this group, uBUCK has partnered with US prepaid platform PreWay, which gives customers the option to purchase uBUCK vouchers at roughly 7,000 convenience stores across the United States using cash.
Having the option to buy uBUCK vouchers in-store with cash will mean consumers don’t have to wait in long lineups to purchase items or pay bills. What’s more, loading up a prepaid Mastercard will allow customers to make online purchases, which otherwise wouldn’t be possible.
Moving forward, uBUCK will be rolling out its service to the Philippines, where 77% of the population is unbanked, and in Southeast Asia, where only 47% of the population have a bank account.
Bringing Payment Solutions to the eSports Industry
uBUCK is also catering to the burgeoning eSports gaming industry with its newly launched second brand, Streambucks, a secure, easy-to-use payment solution that is catered specifically to eGamers.
Streambucks will give uBUCK Tech the opportunity to sponsor eGaming tournaments and offer prize pools in the form of Streambucks. Streambucks can then be used to purchase products in the Streambucks marketplace, convert into US dollars to load a prepaid debit card, and send payments around the world for free.
Official Payment Sponsor of EGLX 2019
Days after revealing the launch of Streambucks, uBUCK announced that it has signed a Letter of Intent (LOI) with Enthusiast Gaming Holdings (TSXV:EGLX) (OTCQB:EGHIF) to make Streambucks the official payment sponsor at the Enthusiast Gaming Live Expo (EGLX).
This is a very strategic move for uBUCK to gain access to its new target demographic, as EGLX is the largest video game expo in Canada, attracting roughly 55,000 attendees in 2018.
uBUCK will be engaging Enthusiast Gaming to create strategic advertising programs across its digital publisher network, which reaches over 75 million visitors across 85 gaming related websites monthly and 50 million monthly visitors from 900 gaming YouTube channels.
The partnership will give uBUCK access to a targeted eSports demographic through Enthusiast Gaming’s engaged network of gaming enthusiasts in order to help promote its platform of payment solutions and build brand awareness.
Offering Record-Breaking Transaction Speed
As mentioned, uBUCK Pay will allow users to send transfers instantaneously. This is because uBUCK Pay is the world’s first US dollar-backed stable token built on Waves, the world’s fastest blockchain platform.
The Waves network has set a blockchain speed record for maximum transactions per day. What’s more, Waves processed more transactions in a 24-hour period than any other open blockchain in existence. This means uBUCK customers are able to send and receive funds much faster than any competing digital wallets and payment transfer services.
Offering a Highly Secure Payment Solution
In this day and age, privacy is basically non-existent, meaning security is essential when it comes to protecting our funds. Decentralized apps like uBUCK Pay can enhance security, as well as speed up money management, transfer, and lending by eliminating middlemen.
This is because uBUCK runs on a P2P network of computers rather than a single server or a centralized cluster of servers. To ensure optimal security, uBUCK Pay offers multi-factor authentication, biometric and device verification, SSL encryption, and Mastercard SecureCode.
No Transfer Fees
Perhaps the most attractive feature for consumers is that uBUCK Pay has zero transfer fees, meaning anyone can send funds to family and friends around the globe without the regular hefty fee.
Anyone who has tried services like Western Union or PayPal know that these services often charge high fees for sending money out of the country. What’s more, these services can take three to five business days to send your funds.
With uBUCK Pay, customers can send transfers instantly all around the world without paying any transfer fees. All the recipient needs to do is sign up for the app, and the funds will be sent to them directly.
This is huge if you consider that an estimated $625 billion was sent in 2017 by migrants to their home countries, $148 billion of which came from the US alone.
Featured Image: LiteLink Technologies