Lemon was originally launched in July 2011 as a money management application, allowing consumers to turn their paper receipts into digital data through a smartphone camera. The customer-focused application was an immediate hit, attracting over one million users in its first four months of release.
In June 2012, with approximately 1.5 million users, the company introduced the Lemon ‘Smarter’ Wallet with a variety of new features and benefits including the ability to ‘back-up’ receipts, coupons and tickets as well as payment and ID cards. With the new ‘Smarter’ Wallet, consumers also have the option of making their payment cards interactive, allowing them to check balances and track purchases as well as receive personalized, location-based offers and discounts. Leveraging geo-location services and serving as a wallet, or payment aggregator, Lemon has been compared to Apple® Passbook® in terms of its feature set and consumer-based value proposition. Lemon is available in both a free and Plus paid version on Android, iOS and Windows operating systems.
In October 2012, Lemon followed up the ‘Smart’ Wallet launch with the introduction of Lemonade, an API, or open platform, for developers to create their own add-ons, or Cards, to run within Lemon. Taking into account accessibility for businesses or merchants without development resources, the company also has a Smart Card Wizard, an easy to use, do it yourself way of designing customized membership cards, coupons, event invitations and more. The concept behind Lemonade and the Smart Cards is a publishing, or advertising, platform, allowing merchants and business owners to reach the 1.5 million plus consumers (and growing!) using the Lemon Wallet. Smart Card businesses can track user demographics, spending habits, and offer redemptions, all through an integrated analytics and reporting tool.
Lemon was one of eight wallets and mobile payment companies included in a recent digital awareness study, conducted by comScore. And, while the numbers are still very small from a consumer perspective, the company certainly found itself in great company, alongside major players in the mobile payments space including PayPal, Google, MasterCard and Visa.