France’s latest mobile bank, Orange Bank, is getting its mobile payment and banking services underpinned by Wirecard, reports Banking Technology (Paybefore‘s sister publication).
The paytech vendor says it is providing “all the technical components integrated into the Orange Bank platform to manage their mobile payments”.
Wirecard is responsible for all the technical and financial processes related to payments using NFC compatible mobile phones. This includes the issuing and payment processing of virtual Visa cards. On the smartphone, Wirecard provides all the features requested to support mobile payments in a software development kit, which is integrated into an application developed by Orange Bank.
The two parties already have an established relationship – Wirecard supports Orange Cash, a prepaid payment service available in metropolitan France. “It was natural to renew this trusted relationship for the launch of Orange Bank,” comments the bank’s CEO, André Coisne.
According to Wirecard, the number of mobile payment users in France is expected to grow from around three million in 2016 to ten million in 2021. When it comes to accessing accounts on mobile devices, nearly 64.9% already go via apps.
“Recognising this trend, Orange Bank has invented an innovative mobile banking solution focused on avant-garde customer use cases such as contactless mobile payments, sending money by SMS, instant bank balances, real-time freezing/unfreezing of the debit card and 24×7 access to a bank advisory service,” Wirecard says.