As great, personalised customer experiences become the new normal for consumers, financial organisations recognise the importance of applying game-changing digital innovations. New services such as mobile wallets now come into play to meet the demands of banking customers, particularly millennials who want omnichannel consumer service available on the go, anytime, virtually anywhere.
From this perspective, VeriPark designed a Mobile Wallet solution, building on 20 years of experience with the VeriChannel solution based on the Microsoft platform and Azure services. The solution stands out as a new way of managing finances through one single application, which is accessible 24/7 at the tips of customers' fingers. Customers can easily manage and control their budgets, monitor their expenses and reach campaigns in their areas of interest. Before mobile wallet, payment used to be tied to a location – but not anymore. Customers can now make P2P contactless payments in real time and use QR codes or NFC to facilitate faster mobile payments.
VeriPark's Mobile Wallet was recently implemented for a bank as financial inclusion and digital payment solution, gaining over 50,000 customers in the first three months. Customers can instantly perform card transactions, manage coupons, follow up and apply merchant campaigns and earn loyalty points. They can also defer payment or pay in instalments, splitting the total into smaller amounts to pay off at regular intervals over a set period – and much more.