Wirecard is revolutionising the mobile payment experience at the point of sale. "boon." is a new payment solution for Android smartphones operating in four European countries.
The app is now available via the Google Play Store in Germany, the Netherlands Austria and Belgium. Other countries will follow. boon makes mobile payments possible at every NFC-capable point of sale which accepts MasterCard Contactless. Numerous retailers, petrol stations and restaurants already support contactless payments via smartphone.
Dr Markus Braun, CEO of Wirecard: "The potential of mobile payment is increasing rapidly, largely thanks to the continual development of NFC infrastructure and increasing user acceptance. This potential forms the foundation of our product. boon will make mobile payment at the point of sale an immediate reality. The solution offers an unparalleled payment experience, from an intuitive user interface to its design and the very highest security standards. The addition of innovative features and business models will help ensure that boon continually grows. We will work with both distributors and cooperative partners to establish boon on a global basis."
Any user of an NFC-capable smartphone with the Android 4.4 operating system or above will now be able to use boon. Users simply install the Android app on their smartphone, then register with boon and that's it - they can make contact payments within just a few seconds. boon is based upon a prepaid MasterCard which is issued by Wirecard Card Solutions. This can currently be topped up by bank transfer or credit card.
In addition, Wirecard has introduced "boon.protect" with a view to guaranteeing maximum security through modern standards and technologies such as PIN request. Customers receive a transparent overview of all account transactions in real time. Risk management tools and the encryption of card data via Host Card Emulation (HCE) technology add an additional layer of protection. Wirecard's HCE solution is both certified and verified by MasterCard.
In 2016, boon will combine not only innovative and secure payment functions but also loyalty solutions and a wide range of personal finance services like micro credits, peer-to-peer (P2P) payments and many more.
According to payments technology company MasterCard, acceptance of mobile payment in Europe is noticeably on the rise. In the second quarter of 2015, the number of "tap" transactions had increased by almost 170 percent year on year.