As part of the strategic alliance with the mobile operator Orange, Wirecard will provide the E-Money and scheme license as well as the technical platform needed to manage the mobile payment application. Users of Orange Cash are able to make mobile payments at any contactless Visa terminal in more than 530,000 stores across Spain and at 2.4 million acceptance points throughout Europe. All that is required is an NFC-enabled smartphone with the app and an NFC-SIM card.
Wirecard is responsible for the design, implementation and processing of all technical and financial processes related to the payment app Orange Cash. This includes the issuing and payment processing of digital Visa cards. Wirecard Card Solutions, a member of Visa Europe, is the card issuing institution. All functions of Orange Cash are combined in a smartphone application developed by Wirecard. To complete the concept, the prepaid-based accounts are able to make purchases in any online shop using a one-time virtual credit card generated in real-time via the mobile application. These one-time cards are valid for a short period of 24 hours at only one merchant.
In recent news, Wirecard and Kairos Watches have teamed up to enable mobile payment services for wearables.
For more information about Wirecard, please check out a detailed profile of this company in our dedicated, industry-specific online companies database.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now