Are you on the forefront of innovations in payments?

If we look at the mobile payments industry now, we will see that the gigantic shift of payment mediums is already in progress. Just some 14-15 years ago, stationary digital service channels (like self-service kiosks or digital banking platforms) were considered the peak of innovation in payments. But today we are already witnessing a rapid shift towards mobile as the new medium for most (if not all) digital financial services. In the last 8 years, the number of mobile users worldwide has quadrupled and projected to increase even further, according to Statista.

With more and more customers using smartphones as their primary channel to access digital services, we are rapidly entering the new paradigm called “mobile first”. With every year, customers view mobile financial services as something expected, rather than just a nice to have option. So this is something that definitely needs to be taken into consideration when launching a new payments service.

Another major shift in payments is happening with the payment cards, as contactless cards technology is rapidly becoming mainstream. For example, the volume of transactions made with contactless cards increased 10 times in just the last 3 years (according to Statista). With the rise of contactless POS infrastructure, new mobile payments technologies, such as Host Card Emulation (HCE), have also emerged. HCE technology allows to turn any Android smartphone, that is equipped with an NFC antenna, into a payments instrument, with which you can make make payments in any retail stores just as easily as with any contactless card.

As all of these trends unfold, the real question becomes – what is your organization doing today to capture consumer interest and capitalize on these trends? Do you wish to enter into mobile financial services, but are unsure where to start? Let us introduce you to one of the possible solutions.

What is Digital Wallet?

Digital Wallet is a white-label mobile platform for building mobile payment services, such as P2P payments applications, mobile & HCE wallets. It is designed as completely self-sufficient platform, containing both server-side components, as well as SDK for mobile application development. Basically, everything that is needed to build and run a mobile payments service.

On the front-end, Digital Wallet SDK is used for developing a compelling mobile application, which you can develop yourself or we can develop it for you, taking into account any design preferences that you have.

Digital Wallet also has a set of webservices API’s for connecting with any external systems, in case you’ll need to import additional data in your mobile app or connect any third-party services (such as SMS notifications).

HCE components of Digital Wallet are also approved by Mastercard and VISA.

What makes Digital Wallet so special?

Among the key things that differentiate Digital Wallet from another similar platforms are:

• Its’ divisibility. When purchasing Digital Wallet, you can purchase and pay only for those components, that are needed for your specific needs and you do not overpay for any components that you won’t be using (for example, you won’t be using general ledger functionality if your goal is to launch cloud-based HCE service)
• Our focus on the end experience of the customer. We understand that end customer’s experience is what ultimately matters the most for you. Therefore, we actively participate in the mobile application development (even if it is developed by your own developers), providing useful advice on how to make it seamless to use for the end customer
• Modern technology stack, with an abundance of competent developers available on the market, in case if you’ll decide to further develop this mobile service on your own

What are primary benefits of introducing wallet services to your customers?

There are several ways how your organisation might benefit from introducing mobile services to your customers:

• Digital Wallet will act as an alternative point of interaction with customers, raising awareness of your brand in their minds
• Digital Wallet will satisfy customer needs that are currently unmet with traditional digital banking and payment cards, for example, making instantaneous payments for small amounts without having to fill in long wire transfer forms in the mobile bank, or making in-store purchases with a phone, without carrying on several plastic cards
• Digital Wallet will act as one additional step on a journey towards “mobile only” experience, where customers will use their smartphones for conducting any financial operations
• Digital Wallet will help your organization to secure its’ market position in a post-PSD2 world, a world of a single data storage and multiple service providers with free, unrestricted access to customers’ data. Digital Wallet will help you secure your position as a competitive service provider and ensure, that you are not left behind as a mere data storage facility

Want to know more?

If you’d like to know more about Digital Wallet and how it could help you remain or become a competitive payments service provider, fill in the form below and you’ll be contacted by one of our representatives on short notice. If you’d like to learn more about the features of Digital Wallet, just download product factsheet, available below.