Boost Mobile Wallet isn't trying to kill debit cards or credit cards like NFC-based solutions. Instead, this service actually comes with its own Visa debit card that taps into your Boost account, which you can add cash to at any time. You'll be able to top off your account right from your phone, pay your bills, and soon you'll be able to cash checks wirelessly.
Targeting the 20 percent of U.S. households that rely on alternative financial services to help with their banking needs, Boost Mobile Wallet is a full-service virtual wallet account. Instead of standing in line at the bank, Boost Mobile Wallet promises to make it easy to manage your money and make secure payments from your device. Plus, you can transfer funds from one Boost account to another.
According to Kevin McGinnis, vice president of product platforms and services for Sprint, which owns Boost Mobile, Boost Mobile Wallet won't sting users with high fees. McGinnis says Sprint has learned a lot from Google Wallet, and told us that Boost's customers are looking for a solution that's easy to manage but one that doesn't force them to give up payment methods they're comfortable with.
Boost customers interested in setting up Boost Mobile Wallet should be able to get help at many participating retail locations, starting in Los Angeles, San Diego and New Jersey. The Android app is available for download now from Google Play. A national rollout will follow this summer.