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Mobile Payments

Allianz launches app for mobile payments

Thursday 8 August 2019 | 10:35 AM CET

Allianz has partnered with Apple Pay to introduce its Allianz Pay & Protect app for mobile payments.

The new service offers a virtual Visa card so users can make mobile payments without adding a bank account.

The company offers two options: a free of charge light version with a prepaid Visa and a premium version. The premium version provides additional payment protection and credit options, and works worldwide, rather than just in Germany, accordint to Telecompaper.

Customers can pay with Apple Pay on their iPhone, Apple Watch, iPad, and Mac, in stores and online. The numbers of a credit or debit card with Apple Pay are not stored on the Apple device or on Apple servers. A unique device account number is assigned, encrypted, and stored in the secure element on the device. Each transaction is authorised with a one-time, unique security code.

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