mWallet Program Summary

Kitt Money Wallet Product Overview
The Kitt Money Wallet technology suite is a state of the art payment management system that was created to significantly reduce the costs of moving money to family and friends. Kitt Money Wallet has created a PayPal type mobile wallet account system that is equivalent to a virtual savings account. It has also integrated an add-on prepaid VISA Debit that is equivalent to a virtual checking account. By combining and integrating these two products, Kitt Money Wallet has built a very powerful mobile commerce product suite that has led to an extremely cost efficient money movement strategy within the U.S. as well as internationally.
Mobile Wallet Program (Virtual Savings Account)
A simple private label PayPal type of service where customers can load money via cash, credit card, US checking / savings account, and receive money from other mWallet users.
Customers can move funds off their account to any US checking / savings account, to other mWallet users, or move money to their Kitt Money Wallet VISA Debit or companion card. This mWallet account has NO monthly fees attached.
VISA Debit Program (Virtual Checking Account)
Customers can choose to add on an optional prepaid VISA Debit which will provide them access to domestic and International ATM networks as well as use anywhere VISA Debit is accepted. Money can be FREELY moved from their mWallet account to their VISA Debit in real time and all using a proprietary state of the art data application that works on an IOS and Android device.
Customers can order a companion VISA Debit and mail that card to loved ones abroad. Once they have that companion card, money can be freely moved from the mWallet to the companion card in real time and again for FREE. Family members can use the card anywhere VISA Debit is accepted and / or take out funds at virtually any ATM.
Mobile Wallet 'mWallet' Account
(Virtual Savings Account)
NO MONTHLY FEE
There are no monthly fees for the mWallet. This account can used as a holding account to move money to your Prepaid VISA Debit account.
ENHANCED MOBILE ACCESS
Customers can manage their account on the go using our private label iPhone App, Android App, WAP, and feature robust website.
FREE PREPAID DEBIT CARD TRANSFERS
Transfer funds from a Mobile Wallet account to the prepaid VISA Debit are FREE and are completed in real time.
FREE ACCOUNT TO ACCOUNT TRANSFERS
Transfer funds onto a Mobile Wallet account from any other mWallet account holder for FREE and in real-time.
REQUEST FUNDS
mWallet users can request funds from other mWallet users for FREE. No more paying 3% of your money to request money for payment of good and services.
'Request Funds' Merchant Payment Processing
Kitt Money Wallet has the ability to allow large and small merchants to integrate into simple APIs to allow their customers to use the Kitt Money Wallet "Pending Payments" Request funds functionality. Customers can use funds on their mobile wallet to pay for a merchant's products and services but with NO merchant costs and expensive chargebacks. This saves merchants 1.5% to 3% of their revenue and eliminates 2%-3% bad debt.
Mobile Wallet (Pricing)
Transaction
Cost
Prepaid Debit Card (Virtual Checking Account)
Prepaid Debit Card (Retail Pricing)
Type
Retail Price
You may also be charged a fee/surcharge by the ATM operator or any network used to complete the transaction
You may also be charged a fee/surcharge by the ATM operator or any network used to complete the transaction
Check your balance for free by logging into your online account or data app.
$2.00 per International transaction (no cash back)
PIN purchase is completed by selecting “Debit” and entering your PIN to make a purchase. You can make a signature purchase at no charge by selecting “credit” at checkout and signing for your purchase (if requested to do so by the merchant).
Customer Identity Verification Requirements
International Move Money
Account Balance Separation Strategy
iOS and Android Data Application
