Wirecard Forges Strategic Partnership With VocaLink to Open up Pay by Bank app to Merchants and boon's Mobile Payment Customers

ASCHHEIM, Germany and LONDON, December 15, 2016 /PRNewswire/ --

VocaLink today announces that Wirecard, one of Europe's leading specialists for payment and internet technology, has joined the payment providers, backing the Pay by Bank app mobile payments initiative. Pay by Bank app is a natural way to use banking apps to pay without the need for consumers to remember their personal details.

Wirecard will bring the power of Pay by Bank app to its mobile payment solution, boon, which lets consumers use their smartphones to tap and pay in store using NFC. In addition, Wirecard will incorporate Pay by Bank app into its UK online merchant acquiring suite of alternative payment options.

As a result of the partnership, boon is the first mobile payment method that can be uploaded via mobile banking. This creates a fully digital mobile-only solution funded by a digital-debit-like payment, without the need for a traditional credit or debit card.

Wirecard's UK online merchants will benefit from the most innovative, secure and fully digital payment option in the UK. From launch, millions of consumers will be able to pay at Wirecard acquired online merchants directly from their banking app, with the transactions taking place in real time. Payments work through secure digital 'tokens', meaning customers never reveal any of their financial details (including account details) to merchants when they are shopping.

Rajiv Garodia, Managing Director, Zapp and International Business at VocaLink, said, "I'm thrilled Wirecard and VocaLink have come together to better serve millions of UK consumers, boon customers and, Wirecard's online merchants in the UK. The combination of Wirecard and Pay by Bank app will give consumers an easy and natural way to pay from their banking app with the added security of not having to share their personal details."

Georg von Waldenfels, Executive Vice President Consumer Solutions at Wirecard, said, "Wirecard and Pay by Bank app is a convenient match for consumers and merchants wanting to accept trusted mobile payments. We're delighted to be working together to deliver mobile payments to millions of consumers."

VocaLink recently announced that Barclays, Bank of Scotland, Halifax, HSBC and Lloyds Bank have signed up to launch Pay by Bank app. Barclays will be the first bank to make Pay by Bank app payments available to consumers and are now live with a select group of beta customers.

Wirecard media contact:
Wirecard AG
Jana Tilz
Tel.: +49-(0)-89-4424-1363
E-Mail: jana.tilz@wirecard.com

About Wirecard:  

Wirecard AG is a global technology group that supports companies in accepting electronic payments from all sales channels. As a leading independent supplier, the Wirecard Group offers outsourcing and white label solutions for electronic payments. A global platform bundles international payment acceptances and methods with supplementary fraud prevention solutions. With regard to issuing own payment instruments in the form of cards or mobile payment solutions, the Wirecard Group provides companies with an end-to-end infrastructure, including the requisite licences for card and account products. Wirecard AG is listed on the Frankfurt Securities Exchange (TecDAX, ISIN DE0007472060, WDI). For further information about Wirecard, please visit http://www.wirecard.com or follow us on twitter @wirecard.

Pay by Bank app media contact: 

VocaLink
Gareth Thomas or Harriet Webster
Tel.:  +44 (0) 2079245656
E-Mail: PBBA@capellapr.com

About Pay by Bank app (http://www.paybybankapp.co.uk/):  

Pay by Bank app is a technology created by Zapp, which is the payment innovation team within the VocaLink Group. VocaLink provides and operates the Faster Payments Service on behalf of the Faster Payments Scheme, the Account Switching platform, Bacs and the Direct Debit Scheme. VocaLink also connects the world's busiest network of over 70,000 ATMs through the LINK scheme. In the UK, VocaLink process over 90% of salaries, more than 70% of household bills and almost all state benefits. In 2015, VocaLink processed over 11 billion transactions with a value of £6 trillion. Safe and secure payments are core to VocaLink's operation, and the new Pay By Bank app mobile payment service puts security at its heart. VocaLink's technology lets consumers make near real-time payments on their phones and tablets, whenever they see the Pay by Bank app paymark.