INDUSTRY WATCH
WIRECARD IS PROVIDING
ALL THE TECHNICAL
COMPONENTS INTEGRATED
INTO THE ORANGE BANK
PLATFORM TO MANAGE ITS
MOBILE PAYMENTS.
W
irecard, a leading
specialist for financial
technology, is the
official partner of
Orange Bank to provide mobile payment
and banking services in France. Orange
Bank has created a new all-in-one mobile
banking and payment solution. It will
provide customers with a bank account,
a debit card, overdraft protection and
an interest-bearing savings account.
Furthermore, it will integrate contactless
mobile payments and real-time bank
balances. Wirecard is providing all the
technical components integrated into
the Orange Bank platform to manage its
mobile payments.
André Coisne, CEO of Orange Bank,
said: “Orange already found in Wirecard
a strong partner for mobile payments
with the success of Orange Cash. It was
natural to renew this trusted relationship
for the launch of Orange Bank. Wirecard
not only guarantees the reliability and
the scalability of our Mobile Payment
Services, but also allows the support of
the widest range of smartphones, which
brings to Orange Bank the capability to
deliver its services to all users equipped
with an NFC compatible smartphone.”
Jan Marsalek, COO of Wirecard, said:
“Wirecard supports mobile network
operators in offering mobile payment
solutions since the very beginning of the
www.intelligentcio.com
deployment of these services. The launch
of Orange Bank is currently one of the
most innovative projects in Europe in this
field. We are delighted to be involved in
this project and to support Orange Bank
with our flexible and secure platform.”
The number of mobile payment users in
France is expected to grow from roughly
three million in 2016 to roughly 10
million in 2021. At the same time, France
has been quick to adopt digital banking
and has taken the lead over some other
developed markets, including the US.
When it comes to accessing accounts
on mobile devices, nearly 64.9% do so
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 debit cards and
24/7 access to a bank advisory service.
Wirecard is responsible for all the
technical and financial processes relating
to payments using NFC compatible
mobile phones. This includes, among
others, the issuing and payment
processing of virtual Visa cards. On the
smartphone, all the features requested to
support mobile payments are provided by
Wirecard in a Software Development Kit,
which is integrated into an application
developed by Orange Bank.
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