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Lemon Wallet Turns Your Android Device Into A Virtual Wallet

by . (Posted in: Mobile Banking, Personal Finance / Personal Finance News)

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Mobile and virtual payment systems are the talk of the town right now and Lemon Wallet aims to make this transition easier for Android users looking to streamline their consumer experience.

Lemon is a new mobile wallet app aimed at Android users that lets members scan credit, debit, and loyalty cards and store the associated information on a secure server for use on their mobile device at a whim. They must be doing something right as they claim to have already signed up more than 2 million users since launching last month.

What sets Lemon apart from other mobile wallet applications is, perhaps, that it is geared more towards business users; that population of consumers who might carry several different credit, debit, and loyalty cards at any given time in order to pay for a wide variety of business and personal needs. Obviously, this is of great benefit to very busy small business owners who need to travel light and quick.

CEO and Lemon founder Wences Casares says

The Lemon Wallet can function more productively and securely than your own existing wallet, so we are enormously excited to bring what we believe is completely revolutionary to our 2 million customers.

This revolutionary technology is available, now, to Android users in a free basic version and a full-featured version (for $9.99 through the Google Play Store). The paid version lets you take pictures of your cards for easier identification, which is particularly useful when you want to take a picture of an ID card or driver’s license.

According to Lemon, their users have already scanned more than 500,000 cards, which they store in their phones for easy access on the go.

Obviously, this technology is exciting, but that does not mean that it is necessarily the best things for everyone. For example, it is extremely convenient to have all of your payment information stored in one convenient mobile app but that also puts all of your very delicate personal information at risk in an extremely compromising way.

Of course, Lemon reassures that their software is quite safe, boasting that their proprietary security technology is “government-caliber.” As with most mobile apps, Lemon requires a four-digit PIN for access to the program but particularly wary consumers can also add another layer of security with an additional PIN to unlock the actual application.

Another concern for mobile wallet users is what happens when your phone is lost or stolen. It should be quite apparent that your mobile device becomes just as susceptible to theft as your traditional wallet but since your information is stored in a server you will be able to quickly and easily contact your card issuers in order to communicate the security breach.

Of course, the online access also means that you do not need to dig out your credit card number every time you want to make an online purchase.

If you are the kind of person who needs or prefers thorough record-keeping, you will also enjoy the fact that Lemon Wallet lets you take pictures of your receipts so you can digitize and store them; transforming your phone into a scanner. Airline tickets, discount coupons, and other information can also be captured by photo and stored but because this technology is still relatively new to the market it is always advised that you hold onto all physical records just in case.

Caesares summarizes:

Our new Lemon for Business offering is designed to eliminate tiresome tracking and endless expense report paperwork that is burdensome for all sides of the reporting process. There are no hardware costs, no IT upkeep, and the app is highly secure, while also meeting IRS expense tracking requirements.

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