AI-driven financial wellness app provider Douugh Ltd (ASX: DOU) (Company or Douugh) is pleased to announce the launch of instant virtual card push provisioning as part of it’s strategic partnership with Mastercard.
Push provisioning is technology that reduces friction for customers by allowing them to directly add their Douugh debit card to a digital wallet from within the Douugh app upon sign-up, eliminating the need to input the card information manually and enabling them to begin making purchases immediately.
The COVID-19 pandemic has served as a major catalyst for the adoption of contactless payments in both the US and globally as consumers seek out simple, fast and safe ways to pay in store. According to a Mastercard study, eight out of ten people surveyed noted that they are now using some form of contactless payment, citing safety and security as key drivers.
Douugh Founder & CEO, Andy Taylor stated.
“We are delighted to announce the launch of push provisioning. This is the achievement of yet another critical milestone for the business. It allows us to dramatically shorten the cycle time for customers to be able to use the Douugh service.”
“Currently it takes up to 10 business days to deliver a physical card. Unfortunately, COVID-19 enforced lockdowns has resulted in some customers having to wait longer than this for their physical cards to arrive in the mail due to supply chain delays outside of our control. Now customers can be instantly issued a virtual card and add it straight to their mobile wallet.”
“As we see the US catch up with Australia in terms of the adoption of contactless mobile payments, it’s been vital for us as a mobile banking platform to be able to become digital first in how we facilitate the payment experience at point of sale.”