Lemon Wallet

Lemon used OCR technology to store and organize users' information from various cards (IDs, health insurance, credit, debit, rewards, etc.) and receipts.{{cite web | url=http://www.tuaw.com/2013/05/31/friday-favorite-lemon-wallet/ | title=Friday Favorite: Lemon Wallet | publisher=Tuaw | date=May 31, 2013 | accessdate=August 21, 2013 | author=Sande, Steven}}{{cite news | url=http://usatoday30.usatoday.com/tech/columnist/kimkomando/story/2011-10-21/komando-track-personal-expenses/50841528/1 | title=Track expenses the easy way | newspaper=USA Today | date=October 21, 2011 | accessdate=August 21, 2013 | author=Komando, Kim}}{{cite magazine | url=http://www.fastcompany.com/1840080/lemon-takes-aim-digitizing-your-bulging-paper-stuffed-back-crippling-wallet | title=Lemon takes aim at digitizing your (Bulging, Paper-stuffed, Back-crippling) wallet | magazine=Fast Company | date=June 12, 2012 | accessdate=August 21, 2013 | author=Eaton, Kit}}{{cite magazine | url=https://www.pcmag.com/article2/0,2817,2408249,00.asp | title=Lemon Wallet (for iPhone) | magazine=PC Magazine | accessdate=August 21, 2013 | author=Duffy, Jill}} An upgraded version allowed users to monitor bank accounts and includes expanded security features such as credit card balance monitoring, alerts for questionable charges, card expiration reminders, and the ability to cancel and restore cards.{{cite web | url=http://www.imore.com/lemon-wallet-iphone-review-create-passbook-cards-your-entire-wallet-and-much-more | title=Lemon Wallet for iPhone review: Create Passbook cards for your entire wallet and much more | publisher=iMore | date=May 13, 2013 | accessdate=August 21, 2013 | author=Kazmucha, Allyson}} Lemon also allowed users to store receipt data.{{cite web | url=http://howto.cnet.com/8301-11310_39-57376917-285/three-ways-your-smartphone-can-lighten-up-a-heavy-wallet/ | title=Three ways your smartphone can lighten up a heavy wallet | website=CNET | date=February 14, 2012 | accessdate=August 21, 2013 | author=Vaknin, Sharon}}{{cite web | url=http://web.appstorm.net/reviews/finances-reviews/lemon-an-easy-way-to-track-your-expenses/ | title=Lemon: An Easy Way to Track Your Expenses | publisher=Appstorm | date=December 13, 2011 | accessdate=August 21, 2013 | author=Takenouchi, Shaun}} The service also organized expense reports (using receipt data), which could be accessed from the web application or mobile device.{{cite web | url=http://lifehacker.com/5846831/lemon-is-an-easy-to-use-and-free-receipt-tracking-tool-for-mobile-phones-and-online | title=Lemon Is an Easy to Use and Free Receipt Tracking Tool for Mobile Phones and Browsers | publisher=Lifehacker | date=October 5, 2011 | accessdate=August 21, 2013 | author=Klosowski, Thorin}}{{cite news | url=https://techcrunch.com/2012/06/12/mobile-money-management-app-lemon-launches-digital-wallet-closes-8-million-series-a/ | title=Mobile Money Management App Lemon Launches Digital Wallet, Closes $8 Million Series A | work=TechCrunch | date=June 12, 2012 | accessdate=August 21, 2013 | author=Perez, Sarah}} This data could also be used to submit expense reports.{{cite news | url=http://bucks.blogs.nytimes.com/2011/10/25/lemon-turns-paper-receipts-into-digital-versions/?_r=0 | title=Lemon Makes Digital Copies of Paper Receipts | newspaper=The New York Times | date=October 25, 2011 | accessdate=August 21, 2013 | author=Carnns, Ann}}{{cite news | url=https://techcrunch.com/2011/10/13/backed-by-10m-in-funding-lemon-com-lets-you-store-organize-your-receipts-in-the-cloud/ | title=Backed By $10M In Funding, Lemon.com Lets You Store, Organize Your Receipts In The Cloud | work=TechCrunch | date=October 13, 2011 | accessdate=August 21, 2013 | author=Wauters, Robin}} A freemium version of the service was available, as well as a paid subscription.{{cite web | url=http://www.appvita.com/2011/12/02/lemon-organized-receipts-for-easier-recordkeeping/ | title=Get an interface lift from Dotvita Lemon – Organized Receipts for Easier Recordkeeping | publisher=Appvita | date=December 2, 2011 | accessdate=August 21, 2013 | author=Miles, Stephanie}} The Lemon application was compatible with iOS, Android, and Windows Phone devices.{{cite magazine | url=http://money.usnews.com/money/personal-finance/articles/2012/01/30/5-apps-for-organizing-your-expenses-at-tax-time | title=5 Apps for Organizing Your Expenses at Tax Time | magazine=U.S. News & World Report | date=January 30, 2012 | accessdate=August 21, 2013 | author=Johnston, Susan}}{{cite web | url=http://gigaom.com/2012/02/24/receipt-tracker-lemon-hits-1-million-users-adds-mint-like-features/ | archive-url=https://web.archive.org/web/20120224202209/http://gigaom.com/2012/02/24/receipt-tracker-lemon-hits-1-million-users-adds-mint-like-features/ | url-status=dead | archive-date=February 24, 2012 | title=Receipt tracker Lemon hits 1 million users, adds Mint-like features | publisher=GigaOM | date=February 24, 2012 | accessdate=August 21, 2013 | author=Kim, Ryan}}

The company released the beta version of the service as an expense tracking and management service in July 2011. It soft-launched at the TechCrunch Disrupt conference's startup alley in September 2011 and officially launched in October 2011.{{cite news | url=https://venturebeat.com/2011/09/13/lemon-com-receipt-tracking/ | title=Tired of keeping track of receipts? Lemon.com can help | work=VentureBeat | date=September 13, 2011 | accessdate=August 21, 2013 | author=Hardawar, Devindra}} In February 2012, the company announced it had reached one million users.

Lemon received $8 million in a funding round led by Maveron in May 2012.{{cite news | url=https://blogs.wsj.com/venturecapital/2012/06/12/lemon-to-squeeze-more-juice-from-e-wallets/ | title=Lemon Aims to Squeeze More Juice from E-Wallets | newspaper=The Wall Street Journal | date=June 12, 2012 | accessdate=August 21, 2013 | author=Kolodny, Lora}} Other investors in the Series A round included Lightspeed Venture Partners, Draper Fisher Jurvetson, CampVentures, and Social+Capital Partnership. The round followed Lemon's release of the Lemon Wallet app, a service designed to store credit, debit, health insurance, and ID card information using the same photo system the company utilized for expense management. The extended capabilities allowed users to back up everything in their wallet using Lemon's cloud-based, PIN protected database. The app's security features include a 256-bit encryption, as well as the ability for the user to remote-wipe sensitive information if the mobile device is lost or stolen.

Beginning in September 2012, Lemon customers could access cards stored in their Lemon account through Apple's Passbook service.{{cite web | url=http://www.paymentssource.com/news/square-lemon-add-support-for-apples-passbook-wallet-3012591-1.html | title=Square, Lemon Add Support for Apple's Passbook Wallet | publisher=PaymentsSource | date=December 10, 2012 | accessdate=August 21, 2013 | author=Wolfe, Daniel | archive-url=https://web.archive.org/web/20121214110402/http://www.paymentssource.com/news/square-lemon-add-support-for-apples-passbook-wallet-3012591-1.html | archive-date=December 14, 2012 | url-status=dead }}

In May 2013, Lemon announced an upgraded expense reporting tool. The enhancement to the Lemon Wallet granted users the ability to have their receipts and e-receipts processed through lemon.com and saved as a PDF copy and a CSV or XLS format copy to be compatible with other expense software. Lemon CEO Wences Casares has reported that as of May 2013, the digital wallet service is capturing and storing approximately 1,000 new cards every hour.{{cite news | url=https://techcrunch.com/2013/05/30/lemons-mobile-wallet-gets-more-useful-with-new-expense-reporting-service-support-for-transactions-is-next/ | title=Lemon's Mobile Wallet Gets More Useful With New Expense Reporting Service; Support For Transactions Is Next | work=TechCrunch | date=May 30, 2013 | accessdate=August 21, 2013 | author=Perez, Sarah}}

On December 12, 2013, it was announced that LifeLock, Inc., a provider of identity theft protection services, acquired Lemon.[http://www.lifelock.com/pr/2013/12/12/lifelock-acquires-mobile-wallet-innovator-lemon/ LifeLock | Press Room | Leading Identity Theft Protection Company LifeLock Acquires Mobile Wallet Innovator Lemon, Inc]

On May 16, 2014, LifeLock, Inc. announced that it had temporarily disabled the mobile application due to a security flaw.{{Cite web|url = http://www.lifelockunlocked.com/lifelock-news/an-important-update-about-lifelock-wallet/|title = An Important Update About LifeLock Wallet|date = May 16, 2014|accessdate = May 24, 2014|website = LifeLockUnlocked|publisher = LifeLock, Inc.|last = Davis|first = Todd}} Despite there being no evidence that user information had been compromised, LifeLock deleted all data stored by current users.{{Cite web|url=https://thenextweb.com/apps/2014/05/17/lifelock-wallet-pulled-user-data-deleted-security-concerns/|title=LifeLock Wallet Pulled from App Stores, User Data Deleted|last=Bryant|first=Martin|date=2014-05-17|website=The Next Web|language=en-us|access-date=2019-08-20}} Previously, LifeLock was fined $12 million for "deceptive business practices and for failing to secure sensitive customer data".{{Cite magazine|url=https://www.wired.com/2010/03/lifelock-accused-of-running-con-operation/|title=Lifelock Dinged $12 Million for Deceptive Business Practices|last=Zetter|first=Kim|date=2010-03-09|magazine=Wired|access-date=2019-08-20|issn=1059-1028}}

{{reflist}}

• [https://web.archive.org/web/19961221134042/http://www.lemon.com/ Official website]
• [https://www.facebook.com/LemonWallet Lemon Wallet] on Facebook

{{Digital payment providers}}

Category:Financial services companies established in 2011

Category:Companies based in Palo Alto, California

Category:Payment systems

Category:Mobile payments

Category:2013 mergers and acquisitions