Why should banks consider a white-labelled digital wallet solution?

White-labelled digital wallets are pre-built payment solutions that can be quickly deployed under a bank’s own brand. Their features are often customisable and they offer customers a secure, user-friendly service without requiring banks to develop their own digital wallets from scratch.

At G+D Netcetera, our white-labelled ToPay Mobile Wallet is built on a modular architecture that allows banks to choose the features they want, such as payments and card management. They can also customise the design to align with their brand. The banks’ customers can download the white-labelled wallet easily using either iOS or Android app stores, while the backend can be hosted on G+D Netcetera's secure servers.

By opting for a white-labelled digital wallet, banks benefit from a faster and more affordable development process compared to developing their own solution internally. This can significantly reduce the timescale of getting their wallet to market, giving an edge over competitors.

Those who choose to use G+D Netcetera also benefit from a co-creation approach that includes an evaluation phase to ensure the white-labelled wallet is tailored to their needs.

White-labelled digital wallets aren’t often limited to in-store and digital payments. Some offer many more features.

Here’s what G+D Netcetera's ToPay Mobile Wallet includes:

• Card management: Set spending limits, view sensitive card details securely and block or unblock cards in case of theft or loss.
• Transaction management: View transaction summaries and enriched transaction details including merchant logo, contact details and location.
• Token management: Enrol cards into popular payment services like Apple Pay, Google Pay and Click to Pay.
• Intelligent notifications: Send smart notifications to customers, such as low balance warnings or upcoming bill payments.
• Message centre: Communicate important updates, such as product changes and promotions.
• Universal search: Quickly find specific transactions, merchants or other information within the app.
   

At G+D Netcetera, we’ve also integrated a Click-to-Pay Push provisioning solution. This card scheme-agnostic solution allows customers to make payments with a single click.

White-labelled digital wallets typically offer a range of deployment options to suit a bank’s specific needs.

Alternatively, some providers may allow banks to host the digital wallet backend themselves. This is a more involved process, requiring in-house expertise and resources to implement and maintain the necessary infrastructure. For example, it might involve handling secure app provisioning, which ensures that the wallet application is delivered to their customers’ devices safely and reliably.

Regardless of which deployment model a bank choses, the third-party wallet provider will handle the integration with the bank’s unique IT system. For example, G+D Netcetera's customer-specific integration layer ensures a fast and smooth experience.

For banks, a white-labelled wallet can provide a fast, cost-effective way to bring innovative digital payment services to market. But their customers can benefit significantly too.

As Markus Coradi, Head of Digital Business & Innovation at Viseca noted after integrating G+D Netcetera's ToPay Mobile Wallet, “By focusing on user-friendliness, state-of-the-art technology and innovative features, our app has become a favourite of over two million users.”

A feature-rich digital wallet also results in customers enjoying a more convenient digital payment experience.

Atila Selim, Head of Alternative Distribution Channels Marketing at Halkbank, explains the impact of choosing a white-labelled mobile wallet: “G+D Netcetera's ToPay wallet enables us to offer customers secure, easier and faster digital payments. This is a big step in terms of digital transformation of banking in the region.”

On a broader level, the adoption of digital wallets advances the digitalisation of payments and banking. Contactless payments improve hygiene and reduce friction, digital cards reduce waste and improve security, and instant payments offer an alternative to cash, contributing to the gradual shift toward a cashless society.

Our ToPay Mobile Wallet is a highly modular solution which allows banks to tailor the mobile wallet to their specific needs. Each piece of functionality is an independent component that can be packaged as an SDK with backend components. This helps banks get their mobile wallet to market more quickly by incorporating premade, customisable features into their existing web or mobile applications.

Our multi-tenant capability is ideal for card processors who provide digital wallets to banks, as it allows them to onboard new clients easily. This capability enables the wallet to be seamlessly integrated and customised within several days, ensuring that each bank using the card processor’s platform can offer their customers a distinct, branded experience.

G+D Netcetera's Swiss-quality digital wallet is known for its reliability and precision. As a design and innovation-led software provider, we update both our front and back-end features on a regular basis, ensuring our mobile wallet offering is always on par with the latest banking apps on the market.

Additionally, we enable banks to access and analyse customer data to provide more personalised and engaging experiences.

Digital wallets are fast evolving into lifestyle super-apps, acting as a central hub for everything from coupons and gift vouchers to concert tickets and boarding passes. At G+D Netcetera, we see several further key trends shaping the future of digital wallets:

• Digital currencies: Future wallets may allow bank customers to buy, sell and store digital assets such as cryptocurrencies.
• Hyper-personalisation: AI-powered analytics could enable digital wallets to offer highly personalised services, such as tailored financial advice, product recommendations and real-time fraud alerts.
• Open ecosystems: Interoperability with other financial services and third-party apps will allow bank customers to access a wide range of services directly from their wallet for a more natural and engaging experience.
• Flexible payments: Instant payments and Buy Now Pay Later (BNPL) options could give bank customers more flexibility so they can better manage their cash flow.
• Secure identity: Integrating secure identity and authentication services would enable digital wallets to serve as a digital ID for a wide range of use cases, such as age and membership verification.
• Financial wellness: Advanced money management tools, such as budgeting, savings goals and debt tracking, could help bank customers understand and control their finances more easily.
• Sustainable spending: Carbon tracking features could help eco-conscious customers learn how their purchases impact their carbon footprint and even offset some of the impact by offering sustainable alternatives or the option to invest in environmental projects.
   

As a forward-thinking digital wallet provider, G+D Netcetera is already innovating in these areas to help banks stay ahead of fast-evolving customer expectations.

Whatever the future holds, digital wallets are an area that banks need to prioritise to stay competitive. By choosing a white-labelled digital wallet solution offered by an experienced third-party like G+D Netcetera, banks can stay at the cutting edge of the digital banking revolution.

To discover how G+D Netcetera can help your bank quickly deploy a secure, scalable and innovative digital wallet, contact us to schedule a no-obligation demo.