In May, Craft Silicon invested $500K into restaurant discovery platform EatOut to launch a mobile wallet for food lovers. Today the firm unveiled Little Wallet for passengers using Little taxi cabs to load money and save their time and earn discounts in the process. This was earlier known as Little Life.
With the wallet, Little will be improving its customer experience through a simplified checkout process and building customer loyalty. The wallet will also give the firm money to expand, give loans to its driver partners as well embark on product development minus using its own money. It’s technically flexible hedging for the firm.
With a faster checkout process, passengers are more likely to come back hence leading to more rides for the drivers and more revenue for them. The Wallet will also allow Little to expand beyond mobile phones as the wallets can loaded and checked out using a desktop PC, laptop, tablet or smartphone, good for shared family or corporate accounts.
The Little Wallet will also allow customers to keep all their Little financial information in one place securely with ability to load their wallets using M-PESA, credit or debit card among others and customers can check out anywhere and anytime and on any device. The Little Wallet also comes with a 10% bonus for any amount a user deposits. So if a passenger loads 5,000, they get 5,250 as their balance. 50,000 will give one a whopping 55,000, that’s 5,000 free cash.
