boon with Apple Pay continues growth in Europe with market launch in Italy
First fully digitised mobile payment solution with Apple Pay
Today Wirecard is bringing Apple Pay to boon customers in Italy.
boon is the first fully digitised mobile payment solution to offer Apple Pay independently from any bank or telecom operator, powered by Wirecard which is a leading company for payment and internet technology and driving the development of payment technology. After UK, France, Switzerland and Ireland, where customers can already benefit from fast and convenient payment with Apple Pay using the boon app, Wirecard is now transforming mobile payments in its fifth European market.
boon is based on a digital prepaid Mastercard, issued by Wirecard Card Solutions. The virtual credit card allows users to top-up their account via debit, credit card or wire transfer. The app gives users the possibility of conducting payment transactions without cash or a bank card, with a transparent overview of the entire real-time transaction process. Thus, the app enables iPhone payments at any NFC-capable point-of-sale terminal which accepts Mastercard Contactless payments.
Security and privacy is at the core of Apple Pay. When you use a credit or debit card with Apple Pay, the actual card numbers are not stored on the device nor on Apple servers. Instead, a unique Device Account Number is assigned, encrypted and securely stored in the Secure Element on your device. Each transaction is authorized with a one-time unique dynamic security code.
“We are very excited to bring Apple Pay to our boon customers in the fifth market in Europe and to further revolutionize the way we pay. Italy is a market where mobile payment is gaining increasing relevance: Already today there are of 150 mobile phones for every 100 inhabitants. The number of mobile payment users is expected to amount to 5.2 million by 2021. Thanks to the usability and maximum security of boon standards we are proud to be part of this development”, said Georg von Waldenfels, Executive Vice President Consumer Solutions with Wirecard.
Apple Pay is easy to set up and users will continue to receive all of the rewards and beneﬁts offered by credit and debit cards. In stores, Apple Pay works with iPhone SE, iPhone 6 and later, and Apple Watch.