Lemon Wallet Stores Credit Cards for Easy Mobile... - Products News

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Credit Card Applications » News » Products » Lemon Wallet Stores Credit Cards for Easy Mobile Access

Lemon Wallet Stores Credit Cards for Easy Mobile Access

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Lemon Wallet Stores Credit Cards for Easy Mobile Access
August
2

A new player in the mobile wallet field, Lemon, is now available on Android operating systems. Lemon mobile wallet platform lets customers scan credit cards, debit cards, and store loyalty cards and claims over two million users since launching last month. Along with availability on Android, Lemon is introducing Lemon for Business, which lets employees easily submit expenses to employers.

If your wallet is bursting at the seams with credit cards, receipts, store loyalty cards and ID cards, using a mobile wallet app can get rid of the clutter and streamline all that information so that it’s just a finger tap away. Now a new mobile wallet is looking to corner the market, with Lemon mobile wallet announcing a version geared toward business, as well as an Android version.

“The Lemon Wallet can function more productively and securely than your own existing wallet, so we are enormously excited to bring what we believe is completely revolutionary to our 2 million customers,” says Lemon’s founder and CEO Wences Casares.

Information at Your Fingertips

The Lemon app, which offers a free basic version and a premium version, Lemon Pro, for $9.99 a month, lets users take pictures of their credit cards, debit cards, loyalty cards, receipts, ID cards, tickets, and coupons, and stores them securely to the customer’s account. Lemon says that their users have already scanned more than half a million cards and stored them in their phones, giving them access to vital financial and personal information all in one place.

The advantage of having all your credit card numbers at your fingertips has to be weighed against concerns about security, but Lemon assures users that their proprietary security technology is “government-caliber,” according to a press release, and will be impervious to hackers. The app requires a unique four-digit PIN to access, and users worried about compromising their information can add a secure PIN to their smartphone, creating a double layer of security in case the phone is lost or stolen.

If your wallet is lost or stolen, then users will still have access to all their credit card numbers and information, making it easy to contact card issuers and alert them to the loss of the card. If your wallet is just in the other room, and you are comfortable settled in surfing the web on your couch, there’s no need to get up and dig around for your credit card if you want to make a purchase online or enter your bank account information to access a statement.

Snap a Photo, Toss it Out

People who need to keep track of receipts for budgeting and tax purposes may be able to throw out their shoeboxes bursting with receipts – with mobile wallet apps like Lemon, they can take a picture of their receipts and they will be digitized and stored. Tickets and coupons can be snapped and stored as well, but should probably be kept in case the venue or store doesn’t accept a digital version of the ticket or coupon.

It’s Business, Not Personal

The new Lemon Business app lets companies eliminate the effort of filling out forms and tracking expense reports with stacks of paper. Employees can submit expenses directly to employers, using their digitized receipts.

According to Casares, “Our new Lemon for Business offering is designed to eliminate tiresome tracking and endless expense report paperwork that is burdensome for all sides of the reporting process. There are no hardware costs, no IT upkeep, and the app is highly secure, while also meeting IRS expense tracking requirements.”

Whether users want to use mobile wallets for business, personal use, or both, Lemon is just one more in an increasingly crowded field of mobile apps, including Google Wallet, Isis, and Passbook from Apple. Although the older generation may be hesitant about using digital and mobile technology to handle their finances, within the next decade it’s highly likely that most people will automatically snap photos of their credit cards and receipts and be comfortable storing that information in their phones. Just don’t post the pictures on Twitter.

All credit cards terms, fees and rates mentioned in this article/post are actual on the posting date. See the current products’ Terms & Conditions on the issuing banks' websites.
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