Under the terms of the deal, Wirecard will provide the technical platform needed to manage the mobile payment application. This allows customers to pay with the mobile handset at contactless POS terminals. Wirecard Card Solutions, a member of Visa Europe, is the card issuing institution. Orange will use Wirecard’s loyalty and couponing platform to launch mobile value-added services.
The payment service is currently in test operations in Strasbourg and Caen. Orange Cash will be launched nationwide in the Q2 2014.
With this solution, owners of NFC-enabled smartphones are enabled to use Orange Cash to make contactless payments at the point of sale (POS). In addition, they can use their prepaid-based account to make purchases in online shops using a virtual one time use credit card, which is only valid for a short period of time.
In recent news, Wirecard has entered a strategic agreement with US mobile commerce technology company CorFire, to allow near field communications service (NFC) to enable mobile payments across Europe.
For more information about Wirecard, please check out a detailed profile of this company in our dedicated, industry-specific online companies database.
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