Socket Mobile (SCKT) Stock Rockets on Apple Wallet compatibility

Socket Mobile SCKT Stock News

Socket Mobile, Inc. (NASDAQ: SCKT) is making a run for the top in the market this morning, and for good reason. The company announced that one of its products has achieved Apple Wallet compatibility. Here’s what’s going on:

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SCKT Stock Heads Up on Apple Wallet Compatibility

In the press release, Socket Mobile said that its SocketScan S550 Contactless Membership Card Reader/Writer has the passed Apple Pay “VAS” (Value Added Services) certification process. As a result, the S550 product complies with Apple’s NFC VAS Protocol to select and retrieve mobile passes from the Apple wallet resident on iPhone and Apple Watches.

SCKT went on to explain that mobile passes are virtual cards, or digitized cards, that are stored within a user’s Apple wallet. These cards are often used for loyalty programs, membership cards, event tickets, coupons/offers, and check in/checkout activities.

These mobile passes are activated by tapping an iPhone or Apple Watch on a reader. With the news today, SCKT informed investors that its S550 reader is capable of activating these mobile passes.

Socket Mobile went on to explain that it is focused on loyalty cards, memberships, and other customer-related services. Moreover, its S550 reader has the ability to automatically request mobile passes for franchises, sotres or events, creating a better overall user experience.

In a statement, Vince Coli, staff director of Technical Product Marketing, had the following to offer:

The S550 delivers an engaging, contactless, and frictionless experience for your customers and guest using mobile passes. The Capture SDK provides our developers with the tools to use the magic of the Apple VAS eco-system. We’re excited to be at the forefront of these new mobile pass capabilities and their ability to improve customer experiences.

This News Is Huge

The news released by Socket Mobile proved to be overwhelmingly positive. The fact of the matter is that technology has changed the way we live many times over. It’s changed the way we pay, communicate, treat illness, and more.

With Apple’s wallet technology, it seems as though we’re beginning to see a shift in user experience with regard to payment and customer loyalty programs. SKCT operates on the latter side of that equation. The company’s focus on loyalty programs means that it needs to stay with the times in user experience. With the announcement that its product is compatible with Apple wallet, it’s doing just that.

As a result, demand for its reader will likely increase, leading to stronger overall revenues. All in all, SCKT stock is one that investors should be watching closely.

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