Digital Wallets are a rapidly growing technology that has become particularly popular in the last five years. They are also important for financial inclusion and the move towards cashless economies. Juniper Research, a Europe-based business intelligence provider, has recognized G+D Netcetera as a leading challenger in the market.
The Juniper Competitor Leaderboard names G+D Netcetera as an established market leader in the Digital Wallet vendor landscape for the second time in a row with extensive experience in the financial sector and a strong market presence in the DACH region. G+D Netcetera was also spotlighted for its strength in partnerships with several major international brands, its efforts in acquisitions, its creativity & innovation, and its high potential in future business prospects.
The G+D Netcetera Mobile Wallet solution is currently used by over 100 banks and has more than 1 million users. It is available on Android and iOS and compatible with global card schemes like Visa and Mastercard. The ready-made app enables a fast time-to-market. Using a toolbox approach, clients can select exactly the modules and features they need. With longstanding domain expertise, G+D Netcetera makes a reliable partner, taking care of the whole development process from UX design to go-live.
Juniper points out the empowerment the Mobile Wallet gives its users. Displaying their transaction history helps them keep track of their spending. This works well with the ability to block and unblock cards directly from the wallet: if a user recognizes an unknown transaction, they can block the card that made it. This can also be done to protect them if a card has been stolen or lost.
Another strength of G+D Netcetera’s Mobile Wallet solution is the security it provides. Offering FIDO-based biometrics allows G+D Netcetera to verify a strong identity, meeting PSD2 standards for strong customer authentication on transfers. Tokenization is also a strong security feature, protecting card details and reducing the risk of them being stolen.
Loyalty schemes and offers are key for driving engagement
Digital Wallet providers use loyalty programs and rewards over other payment methods to promote the adoption of their wallets in competitive markets. Merchants prefer wallets for their lower transaction fees compared to cards, with some introducing their own wallets to eliminate fees. However, attracting users to merchant-specific wallets remains a challenge.
Digital Wallets becoming customers’ point of contact with banks
In areas with low banking penetration, Digital Wallets serve as a bridge between users and financial services, enabled by increasing smartphone usage. Banks leverage this by offering wallets with cash agent support and P2P payments, providing financial access to previously unbanked populations while expanding their customer base.
Juniper Research is a European provider of business intelligence. It specializes in providing high-quality data and fully researched analysis to manufacturers, financiers, developers, and service/content providers across the communication sector. Juniper Research is fully independent and able to provide unbiased and reliable assessments of markets, technologies, and industry players. The team contains experienced senior managers with proven track records in each of their specialist fields. More: https://www.juniperresearch.com/
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