Go Get the GoMo Wallet!

On Tuesday, Gold Mobile and Telecordia introduced the “GoMo Wallet,” a mobile-based Software-as-a-Service (SaaS) customer loyalty solution.  The GoMo Wallet is a way for retailers or marketers to use mobile devices to deliver and track loyalty rewards.
Two New Jersey based companies, Gold Mobile, a leading CRM and mobile solutions provider, and Telecordia, a mobile broadband and enterprise communications software provider, collaborated to develop the GoMo Wallet.  Their goal with the GoMo wallet is to increase customer participation in loyalty rewards.
The high-security GoMo wallet will have mobile wallet transactional capability.  Customers will be able to order or reserve products, before entering the store, on their mobile devices.

The GoMo Wallet also has many loyalty tools that Gold Mobile and Telecordia believe will increase vendors’ base of loyal customers.  Promotions and rebate cards can be delivered directly to the mobile device.  The GoMo wallet also allows retailers to interact with their customers so that rebates and promotions are personalized instead of one-size-fits-all.
Essentially, the GoMo system combines businesses’ CRM systems and their loyalty systems to create an efficient incentive program.  The GoMo wallet is compatible with all mobile phones and wireless networks.
Gold Mobile believes that retailers have to adapt to this influx of mobile users if they want to connect more with their customers and improve their CRM.  Brian Edwards, the Executive Director of Business Development for Telecordia Technologies Inc. said, “With the rapid adoption of new wireless technologies, applications and services by consumers around the world to support their new lifestyles, companies have a unique window of opportunity to accelerate market share by better servicing today’s mobile-connected consumer.”
There are several functions of the GoMo Wallet, which include:
*Friends & Family Commerce– parental controls or spending limits can be set, balances can be transferred
*Spending & Payment Policy Management– expense balances with expiration dates, real-time mobile alerts for over-the-limit spending, and policy-controlled bonus rewards based on customer usage
*Anywhere Approvals & Transactions– transactions can be made anywhere with a mobile device
*In-the-Moment Promotion & Merchandise Management– incentives can be given based on the time of day, customer profiles, or inventory levels
The GoMo wallet is better than traditional rewards programs because it is more direct and customized. Gold Mobile and Telecordia believe that the GoMo Wallet will be a great success and that it will provide a solid CRM solution for businesses.

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