Introducing a Wallet Your Customers Can Trust
Later this year, Early Warning Services, LLC will operate a new wallet being launched by seven of the largest banks in the U.S. to uniquely address longstanding payment problems in e-commerce. The wallet will include approximately 150 million Visa and Mastercard credit and debit cards connected at launch, with plans to add other card networks in the future.
Yesterday, the Wall Street Journal previewed our new initiative in an exclusive report!
“Customers using their wallet wouldn’t have to type in their card numbers, which can raise the risk of fraud and rejected payments that result in lost sales.”
- WSJ NEWS EXCLUSIVE FINANCE
The wallet aims to provide an easy and secure way for consumers to pay online– no need to manually add card details, instead, a tokenized number is provided to the merchant.
For merchants, the wallet simplifies the checkout experience in a few clicks, helping to lower cart abandonment.
James Anderson Tapped as Managing Director of Wallet
With a track record of successfully delivering large-scale payment initiatives from ideation through scaled commercial deployment, James Anderson joined Early Warning to lead the wallet initiative. Serving as Managing Director, Anderson is based at the company’s new office in New York City. Previously, he led the development of the Mastercard Digital Enablement Service, which provides tokenized card credentials to mobile devices to support multiple secure digital payment use cases.
"We hear from consumers that they want to utilize online payments from their trusted financial institutions," said Anderson. "Early Warning is working closely with financial institutions to build a wallet that provides consumers a secure and easy way to pay. The wallet will also aim to deliver better business outcomes for merchants - including higher transaction approval rates and more completed sales."