Campus Nation Network and mobile commerce platform provider LoopPay are partnering to provide market mobile digital wallets to university campus communities across North America. The two companies are creating the Campus Loop product line, which will provide services to merchants on and around college campuses, along with students and faculty.
"We share a vision to have smartphones act as a complete student wallet, which will host transaction payment cards and student ID's, thus eliminating the need to carry traditional wallets," said Will Graylin, CEO of LoopPay in a Campus Nation statement.
The LoopWallet mobile wallet app enables customers to load their credit, debit, gift, loyalty, ID, and membership cards into a secure memory, accessed by their smartphone. Mag stripe card data is stored into a secure Loop chip inside a Loop Fob or Loop Charge Case accessory. The chip could eventually be embedded into phones.
Through its patent pending Loop Magnetic Transmission (LMT) technology, the card data can be transmitted to existing POS terminals without any hardware or software change, according to the statement.
"LoopWallet fully compliments CNN's strategy to fully serve the university and college markets with smartphone transaction capabilities, coupons and special offers, college-specific information, and other services," said Thomas Kuehle, president of Campus Nation Network, in the statement.
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