Card users can now be enabled to access funds using major mobile wallets.
This new functionality responds to the global trend of the digitalization of payments at the point-of-sale (POS), and facilitates a convenient digital method for card holders to access and use their funds. Clients may enhance their offerings by empowering Wirecard cardholders in the U.S. to simply add incentive and payroll cards to their mobile wallet to shop safely and securely at millions of retailers – in-stores and online.
Mobile wallet readiness is the latest innovation from Wirecard North America, which has been part of Wirecard Group since March of this year with the acquisition of Citi’s prepaid card business. Increasing mobile wallet functionality offers an innovative payment experience for digital-minded consumers, and aligns with Wirecard’s global strategy to provide simple and innovative commerce experiences at every customer touch point.
Wirecard has successfully executed similar initiatives internationally with major customers like Orange® and Singtel®, mobile wallet providers in France and Singapore, and its own mobile payment solution, boon. The app is based on an automatic app-to-wallet integration using a virtual Mastercard® issued by Wirecard Card Solutions Ltd., and is the industry’s first fully digitalized mobile payment solution on the European market that is completely independent of any bank. Since 2015, boon has been successfully launched in stages as an Android app, and has also become available for iOS users.
According to Business Insider Intelligence, customer adoption of mobile payments in the U.S. is poised for growth. 56% of U.S. consumers are forecasted to transact $503 billion in mobile payments by 2020. Initiatives such as card acceptance in mobile wallets will help overcome the main barrier to mobile payments adoption. By integrating card functionality into mobile wallets, Wirecard provides the technology and global scale expertise the industry needs to enhance the consumer commerce experience.
“The future of the mobile wallet is one in which a payment is seamlessly integrated into the customer’s daily life,” says Deirdre Ives, Managing Director at Wirecard North America. “Wirecard’s integration with Apple Pay, Android Pay, and Samsung Pay provides a more holistic payment experience to a greater segment of the population and further moves the industry toward a future that is borderless, safe from intrusion, and inclusive to all.”
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