Simple and convenient: Free payment by smartphone

No matter where they’re going, digital natives always take it with them: their smartphone. With the boon app, they can now easily pay for many of the things they’d like to buy: takeaway coffee, public transport, movie tickets – and worldwide at that. boon works around the world at any location that accepts contactless MasterCard payments.

Wirecard developed boon, a payment app based on HCE technology, for end users. It is as easy to use as it is to download. The app has already been successfully launched in Germany, Austria, Spain, Belgium, Ireland and the Netherlands. Any Android smartphone user, no matter their mobile provider, can download boon from Google Play.

boon is based on a virtual prepaid MasterCard and is accepted at any contactless point-of-sale terminal worldwide. The user navigation has been kept deliberately clear and simple. Even registration is quick: besides a phone number, users simply must select a password, PIN and security question. In a matter of minutes, boon is ready to use. Users can see their spending in real time. Currently it’s possible to top up boon via money transfer or a credit card on file. When funds are paid with a credit card, the balance is available immediately and it can even be topped up automatically as soon as a certain minimum balance is reached.

Flexible, fast and easy
In future, users will have even more top-up options. An active internet connection is not required for payment to go through, and when it does, none of the user’s stored bank or card data is transmitted to the merchant. The transaction is made using a previously generated, single-use token. Customers can carry out up to five payment transactions offline before an internet connection is required to download new tokens. And since customer data isn’t saved on the smartphone itself but rather on a server, and since a PIN is required for every payment, the risk of misuse is minimal. If the phone is lost, the account can be locked by calling a toll-free international service number. Wirecard will continually expand boon with value added services, such as loyalty offers and financial services, including micro credits and peer-to-peer solutions.

«boon is characterised by its unique and intuitive user experience and simple registration process.»

Georg von Waldenfels | Executive Vice President Consumer Solutions

boon offers customers the flexibility they expect
boon is one of the first payment products worldwide to be offered exclusively as a digital solution. boon is characterised by its unique and intuitive user experience and simple registration process. In future, users will be provided with new and innovative features that offer them – but also retailers – true, location-based added value. From the outset, various partner concepts, such as white label solutions, were designed to work with boon. The consumer solutions department develops consumer products and contains experts who bring many years of experience in creating digital products for end users as well as developing new business models. Thanks to Wirecard’s comprehensive assets, these models are very easy to scale globally.