An interview with the creator of MoMoWallet, Natalie Forood
Please tell us about yourself.
I immigrated to the States from the Ukraine when I was 7 and was brought up in a San Francisco family that valued hard work and education. My Dad was an electrical engineer and always encouraged me to pursue a technical field of study. I loved math and would take programming classes during the summers – this was when PCs just came out and BASIC was all the rage! I was a proud self proclaimed geek! I enjoyed it so much that I would go to PC trade shows to purchase components to build my own PC. In those days, the best computer came with a 13″ heavy monitor that displayed amber colored text and we had dot matrix printers!
While working full time to fund my studies at San Francisco State University, I earned a Bachelors of Science in Computer Science. After graduation, I became one of few Silicon Valley women software engineers and managers, honing my skills in the invigorating atmosphere of several successful computer networking startups and high-profile marquee companies. I’m a busy Mom of 3 daughters ages 24, 16 and 11 years. My oldest daughter is also a software engineer who is working on Android apps.
Tell us about this new app, MoMoWallet, you developed.
MoMoWallet is an app and business marketplace which finds products, services, and activities that match the interests of busy MoMs and their families. The app is used by consumers to browse through products that match their interests. The website: www.momowallet.com, allows businesses to create campaigns that highlight their unique product offerings, events, announcements or services. The “brains” of the system figures out which of the products best suit the interests of the consumer and delivers them right into the consumer’s personalized deals feed.
What motivated you to create MoMoWallet?
I was frustrated when receiving all types of promotional offers that I was actually interested in but had no way of organizing nor having an easy way of keeping track of when they were about to expire. As a busy MoM of 3 girls, I do my best to stay within a budget while still finding quality products and services for my family and home, but it was getting difficult to sift through all of the promotions that were coming into my email, home mail and in-store offers.
I wanted to create a tool that would help me be a savvy consumer and stay organized. I wanted a tool that also had an integrated shopping list so that my promotions could be organized by stores or categories when I was on the go to always have them with me. I also realized that as a business owner, what was lacking is the ability for small and medium sized businesses to have complete control over how and when they promote themselves and not having the tools to build a loyal consumer base. Small businesses do not have the resources to create their own mobile app and market themselves as they see fit. They rely on other services which take a large percentage of the revenue and do not build a loyal customer base.
It made sense to develop an app that would bridge this gap and satisfy the needs of busy MoMs as well as small to medium size businesses. The app also includes many of the national retailers we are accustomed to that offer savings on products and services we love.
What are some of the benefits of using MoMoWallet?
Who doesn’t like a good value on products and services for the whole family? We strive to curate the most useful products at a great value and aggregate everything into a personalized deals feed right on your phone. Are you tired of getting paper promotions in your mail, keeping them in your purse for future use only to realize that by the time you find them, they have expired? Do you want to avoid digital coupons cluttering your inbox? Do you hesitate giving out your email address to various retailers and web sites to limit how many ads come into your email? Why not let MoMoWallet collect all of them for you?
MoMoWallet seamlessly, takes all of those offers and funnels them directly into your personalized deals feed so that they get collected in one place for you to use when you actually want and need them. It also minimizes how many offers you receive by filtering the content based on your interests and preferences. It has the ability to learn what you truly want and only show you those promotions. The app finds activities for kids, camps, products for the home, personal health care items and much more.
Does one have to be a mom to use MoMoWallet?
No, actually anyone can use it. Although we think MoMs will benefit significantly from using the app because they primarily make purchasing decisions for their families, MoMoWallet is a play on words for “Mobile Money Wallet” and “More Money in your Wallet“.
We have structured the app based on “The MoM Wallet”, but anyone who wants to have all of their promotions in one place and be organized can use the app. MoMs’ wallets are filled with lists, coupons, gift cards, and many other resources they typically hang on to so that they have it at their finger tips when needed. We just took that physical wallet and made it digital for busy MoMs (or Dads) who are on the go.
Does MoMoWallet allow sharing of certain lists with others, for example, with family members?
No, currently, lists are meant to store saved offers and to alert the user when they are due to expire or when you are near one of the stores that has a promotion you have saved. In the future we will add sharing a saved list.
How much does the MoMoWallet app cost? Do you offer any discounts?
The app is free for consumers. Businesses who sign up on the MoMoWallet web site get charged a subscription fee to use the platform.
Are there any new features/services in the pipeline?
Yes, we have several enhancements and ease of use feature planned for the next release. We plan on improving our merchant search algorithm and user interface screens.
How do we get in touch with you if we have further questions?
*Note: The goal of this interview is only to inform parents about new, cutting-edge apps and products that help them and their children. Inceptive does not endorse or recommend any commercial products, processes, or services. The views expressed in the interview are those of the authors and do not represent the opinion of Inceptive.