Wirecard to reward digital app users by paying interest
Wirecard will begin giving German users of its boon Planet digital account 0.75% interest on funds held in the prepaid card account beginning next year.
Boon, which has been in pilot since 2015, leverages a prepaid digital Mastercard issued by Germany's Wirecard, and the interest-bearing feature will be available only in Germany to start, Wirecard said in a Monday press release.
Wirecard last month formally launched boon Planet for Android users in Germany, enabling users to make SEPA transfers or pay via a virtual card within the app or receive a physical debit Mastercard. The boon Planet app supports Apple Pay, Google Pay, Garmin Pay and Fitbit Pay, said Claudia Kaub, Wirecard’s head of consumer solutions, in the release.
“With the additional functionality, we are continuing our goal of simplifying consumers’ entire everyday financial life,” Kaub said, noting that Wirecard is working to expand boon Planet across Europe.