Nov. 13 - DeviceFidelity and TransCard have announced a strategic alliance to deliver a comprehensive mobile Prepaid MasterCard® offering that will enable financial institutions, retailers, program managers and mobile network operators to market their own branded mobile payment service. The innovative features available in this customizable program easily allow early adopters to leapfrog their competition.
“We are excited to be strategically aligned with such a forward thinking company,” said Youri Bebic, DeviceFidelity’s General Manager for prepaid programs. “The alliance between TransCard and DeviceFidelity creates opportunities that were previously unavailable in the financial and commercial sectors, which in turn will further the adoption of mobile payments by the consumer.”
The reloadable prepaid program offered by DeviceFidelity and TransCard provides a mobile banking app that offers real-time balances; transaction history; card-to-card transfers; cash back rewards; reload options and a PayPass™ locator.
Craig Fuller, TransCard CEO, stated, “TransCard enables financial institutions to offer non-traditional transaction products and this venture embodies that mission.”
By retaining control of the mobile payment offering, financial institutions, retailers and prepaid program managers will increase retention and acquisition rates. This white label program is also perfect for wireless operators looking to rollout mobile payment services to their subscriber base without having to develop an NFC mobile wallet from scratch.
The partnership paves the way for current TransCard clients to offer their own mobile wallet solution. TransCard will make the white label wallet available to its fast growing network of financial institutions and all current cardholders.
DeviceFidelity, Inc. develops plug-and-play technologies that empower a variety of institutions to deploy their services and applications on millions of mobile phones worldwide. Its patented In2Pay® microSD and In2Pay iCaisse solutions transform popular mobile phones into interactive contactless transaction devices. Committed to bringing contactless innovation to the mobile phone, the company launched moneto, the world’s first multi-platform mobile wallet in the US. DeviceFidelity is a private corporation with headquarters in Richardson (Texas) and offices in San Mateo (California), London (UK) and Aix-en-Provence (France). For more information visit devicefidelity.com.
Chattanooga-based TransCard enables financial institutions throughout the country to offer non-traditional transaction products. TransCard prepaid products are now available at 69 financial institutions and over 4,000 branches throughout the country. TransCard invites financial institutions of all sizes that wish to grow deposits and fee income, deepen their treasury relationships, and create or expand a prepaid program to visit us at http://corp.transcard.com and follow us on Twitter.