Wirecard gives boon a boost

Wirecard gives boon a boost

Paytech company Wirecard is expanding its mobile payment app boon with new features, including a virtual prepaid card, peer-to-peer (P2P) payment service and flexible overdrafts, reports Banking Technology‘s sister publication Paybefore.

Starting in November this year, all boon iOS users will have the option of using an in-app virtual prepaid card to make online payments.

Wirecard says it also will add an “intelligent scoring process” to make verification of a user’s creditworthiness possible within seconds to provide “flexible overdrafts”. Users will be able to pay at any time with their boon app, since the approved loan amount is added directly to the boon prepaid account, the company said. The overdraft service will be offered in Spain starting in November, with all other countries where boon is available following.

The new P2P transaction feature will be available to all boon users by the beginning of next year, enabling real-time funds transfers.

Georg von Waldenfels, executive vice-president, consumer solutions at Wirecard says with the new services “boon becomes an all-embracing app in everyday life”.

Since 2015, boon has been launched in stages as an android app in Germany, Austria, Spain, Belgium, the Netherlands and Ireland, while another version is also available for use with Apple Pay in the UK, France, Ireland, Switzerland, Italy and Spain. Consumers can use the mobile payment app regardless of their bank relationships.