TransCard LLC has formed a partnership with DeviceFidelity’s Moneto payments service to provide its bank clients the ability to create their own mobile wallets.

The Chattanooga, Tenn.-based prepaid card services provider announced last week that the partnership allows its 84 financial institution clients to add NFC-enabled phone cases and microSD cards to create mobile payment capabilities through any Apple Inc. iPhone or Google Inc. Android device.

While the product provides banks with a white-label option for mobile wallet creation, it also allows wireless operators to provide mobile payment services to their subscribers, TransCard stated in a press release.

The NFC mobile wallet is built around a reloadable prepaid MasterCard and includes a mobile banking application that offers consumers real-time account balances, transaction history, card-to-card funds transfers, cash-back rewards and a PayPass merchant locator.

TransCard prepaid products are currently offered through its 84 U.S. bank clients, which operate 4,385 branches, the company says.

Subscribe Now

Authoritative analysis and perspective for every segment of the payments industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry