Posted on 10/16/2018 at 08:00
Wirecard as founding member of EHI mobile payment initiative drives digitization of payments
Consortium promotes mobile payment for retailers and consumers in Germany
Wirecard, global innovation leader in digital financial technology, together with the EHI Retail Institute and other partners including Google, Mastercard, Payback, GS1 Germany and Visa, has founded the EHI Mobile Payment Initiative. As a result of this initiative, the retail industry will be able to satisfy the growing demand from consumers for mobile payment solutions. The exchange of expertise among the partners also plays a significant role in the EHI Mobile Payment Initiative.
According to a representative survey by EHI, around 20 million German consumers are open to the concept of mobile payment. They particularly appreciate the speed and great simplicity of the payment process. By contrast, consumers who are yet to be convinced by the solution are in many cases not well informed or are not yet fully aware of the advantages of mobile payment.
Georg von Waldenfels, Executive Vice President Consumer Solutions at Wirecard, explains: "The market is mature for technology and both consumers and the retail industry are now demanding solutions which make the purchase process quicker and simpler without having to make significant changes when paying. This was exactly our vision when we launched our mobile payment app boon in 2015. Together with the other founding members, we are delighted to be able to educate both consumers and retailers alike about mobile payment solutions that are available on the market today."
With boon, Wirecard is a pioneer in mobile payment in Germany. boon was the industry's first fully digitized mobile payment solution and can be used independently from banks and telecommunications providers. Today, boon is available in ten European countries and, depending on the country, supports Apple Pay, Google Pay, Fitbit Pay and/or Garmin Pay.
boon provides users with a digital Mastercard which they can use for payments. The boon account can be topped up by credit card or bank transfer. The fact that you can use your smartphone for contactless payments completely bank-agnostically makes boon unique. Users connect their boon Mastercard with a mobile payment wallet such as Google Pay, take their mobile device, simply hold it at the checkout without having to open the app, and the payment is made. As a result, it is no longer necessary to own a credit card from a particular bank. Furthermore, boon facilitates free, real-time money transfers between boon users.
More information about boon can be found at: www.boonpayment.com
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