Wirecard moves into banking with boon Planet

Wirecard moves into banking with boon Planet

German fintech Wirecard has begun pilot trials of a raft of ancillary banking services for users of its boon mobile payments app.

Users of boon Planet will be able to open an account, access personal financial management tools, transfer money and conduct contactless payments both on their phone and via a linked Mastercard.

The new account is initially being rolled out to several hundred guinea pigs, before becoming widely available for both new and existing customers in October.

Claudia Kaub, head of consumer solutions at Wirecard, says, future iterations of the account will include loyalty features and mobile insurance. “In the future we will offer all our users the whole world of digital payment and banking. With boon Planet, we will set new standards so that our users no longer have to leave the app for their everyday finances.”

Comments: (2)

David Gyori
David Gyori - BANKING REPORTS, LONDON - London 24 June, 2019, 10:30Be the first to give this comment the thumbs up 0 likes

Yes, wallets are becoming banks. Banks need to wake up? 

Craig Lawrance
Craig Lawrance - Starkspur Ltd - Chalfonts 24 June, 2019, 12:141 like 1 like

This new brand of lifestyle financial management will eventually erode the trad banks, provided they can get their hands on their customer's primary income stream.  Many are dipping their toe in the water by using these new arrivals as secondary accounts.  

What I find most intriguing is their mention of loyalty features.. akin to retailers...

Watch the webinar - Finastra payments report: Digital disruption comes to the corporate treasury
Dorsum white paper - Building your future wealth management solution vol. 2

Trending Stories