Wirecard has entered into a new strategic partnership agreement with Visa to develop tokenised mobile payments in Romania using a white-label digital wallet solution.
The digital wallet, Visa Digital Commerce App (VDCA), is designed to enable cardholders to manage their Visa card accounts and carry out contactless payments using mobile devices.
In addition, the solution provides services such as card controls, alerts, travel and account balance notifications, and transaction history.
Under the terms of the agreement, Wirecard will commercialise the Visa Digital Commerce App to card issuers who intend to support tokenised mobile payments without developing their own digital wallets.
Wirecard Romania managing director Utku Ogrendil said: “The VDCA solution that Visa and Wirecard offers to the Romanian market is a perfect answer to this trend and we are delighted to digitise processes together.
“The solution is easy to integrate into payment ecosystems, VDCA is a powerful tool for banks and other card issuers, that get their clients to the next level in terms of safety and accessibility for payments.”
In the country, Wirecard also obtained the Visa Token Service (VTS) certification to replace critical cardholder details with a unique digital identifier in order to ensure secure contactless payment using virtual cards.
Visa general manager for Romania, Croatia, Slovenia and Malta Catalin Cretu said: “The tokenisation service, allows cardholders to use their phones to pay easily and securely at millions of merchants that accept contactless payments across the globe.
“We believe tokenisation will be a key component in the future of digital payments and we are glad to partner with Wirecard to offer our Romanian customers a new convenient and safe way for their mobile payments.”