Mobile Payments are expected to reach $2.8 trillion by 2020 representing ~40% year-on-year growth.
There has been a continuous increase in usage of mobile phones / wallets for making payments with 56% of consumers willing to use their mobile device to pay for their product. Banks are realizing the importance of having their own branded wallet and have started offering a mobile wallet integrated with their mobile banking app.
Mobile Wallets were initially used to store the standard card types i.e. credit and debit cards. Of late, they support diverse cards such as loyalty cards, transit cards, hospitality & airline cards and even ID cards.
- Multi-card wallet with support for varied card types – credit, debit, loyalty, ID, transit, hospitality
- Can be embedded within bank’s mobile banking app
- Support multiple payment options - NFC, Bluetooth or QRCode
- One-Click payment on Wallet
- Secure digital card and credential issuance to mobile device using Tokenization & HCE
- 20+ years of experience delivering solutions in the Payments space
- End-to-end offering covering mobile wallet SDK, Mobile payment acceptance (mPOS, payment aggregator) and tokenization
- Proven frameworks and reusable components for accelerated delivery
- Working prototypes can be the base for quicker adoption
Mobile Wallets with VirtusaPolaris
- Create a seamless mobile experience with an comprehensive integrated solution
- Simplify mobile services and on-boarding processes for a better mobile payment experience
- Easy deployment with flexibility to upgrade security levels to match risks
- Benefit from a versatile solution to maximize reach and performance
- Digitize your complete card portfolio with one provider including international payment brands