German financial services company Wirecard has partnered with MasterCard to roll out its host card emulation (HCE)-based mobile payments service “boon.” that will allow all Android users with NFC-enabled phones to make contactless payments throughout Austria, Belgium, Germany and the Netherlands.
“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 contactless payments within just a few seconds,” the company said in a press release. “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.”
The Munich-based company has also introduced an additional security layer called “boon.protect,” which will prompt users to pass additional security features, such as PIN request. Some of the other features include risk management tools, data encryption via HCE and a real-time transactions tracker that allows users to monitor transaction activity on their account.
“The solution offers an unparalleled payment experience, from an intuitive user interface to its design, and the very highest security standards,” said Dr. Markus Braun, CEO of Wirecard. “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.”
For 2016, the company said it plans on enabling new features in boon., including additional payment functions and a wide range of personal finance services, like microcredits and peer-to-peer (P2P) payments, among other things.
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