Financial institutions are steadily moving towards digital. Financial products and services now fit within one’s digital lifestyle and an increasing mode of payment in today’s digital world is the mobile wallet. Bank-Genie’s innovation, Genie-Wallet, opens up more merchant access for banks and their customers.

Genie-Wallet offers the convenience of multiple payment options all within a mobile application — all the while making sure that payments are trusted and secure. Genie-Wallet is a customer-enabled solution that facilitates contactless and secure payment options that are funded through linked bank accounts or credit cards. Payment options are NFC-based, QR codes, RFID, OTP, and loyalty programs.

Implement Genie-Wallet now to reduce operational costs, expand payment options and increase transaction volumes.

<strong>Key Features</strong>

Enables customers to use the digital wallet without any outside intervention

Transfers money from wallet to wallet, wallet to bank, and bank to wallet

Enables customers to pay using a mobile application split

Integration to both 3rd party wallets and to mobile banking

Enables customers to make split bill payments with their group

Allows processing of merchant payments

<strong>Benefits</strong>

Improve Customer Satisfaction – Genie-Wallet simplifies onboarding and reduces the number of apps the customer needs for mobile payments.

Protect Customer Data and Privacy – Two-factor authentications are in place to ensure secure transactions and customer data is not disclosed outside the bank.

Reduce Operational Costs – The deployment of Genie-Wallet unlocks opportunity for the bank to upsell other products and it plugs loss of revenue to 3rd party providers.

Ease of Access – Customers can make payments simply with a few taps on their mobile phones.

Resources

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