TransCard Offering NFC Wallets to US Banks

by Mercator Advisory Group 0

TransCard LLC, a payments processor, is working with DeviceFidelity to bring white labeled NFC applications to community banks in the U.S.

From NFC World:

The NFC mobile wallet is built around a reloadable prepaid MasterCard and provides a mobile banking app that offers real-time balances, transaction history, card-to-card transfers, cash back rewards and a PayPass merchant locator. Moneto uses DeviceFidelity’s NFC add-on phone case and microSD options to bring secure NFC payments to a range of devices including iPhone and Android smartphones.

TransCard has been working with the American Bankers Association to offer prepaid card programs to community banks as well. Now it is offering a mobile wallet for smaller financial institutions to provide a mobile wallet capability. But because the mobile wallet requires external hardware, it may find itself at a competitive disadvantage to those which allow bank customers to use their current devices.

Click here to read more from NFC World.

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