MUNICH, July 28, 2016 /PRNewswire/ --
- Users can save money automatically through their everyday activities
- Wirecard implements virtual MasterCard and provides e-money account
- From today on, the app is available for free download in the Google Play store
Wirecard Group has entered into a partnership with Frankfurt-based FinTech company savedroid. The eponymous app is aimed at helping users save money as they go about their everyday activities. To make this possible, Wirecard is implementing a virtual MasterCard in the savedroid app as well as processing payments via an e-money account - thereby providing the necessary licence and technical platform. By launching the app, the two companies are bringing an innovative solution to the market, which demonstrates how the digitisation of banking can also provide value added for consumers.
Personalised savings rules allow users to turn everyday habits into pure savings - whether practising sport, checking their smartphone, using social media apps or shopping. Rules are based on if/then logic, modelled on the American "If This, Then That" principle. They can be freely configured in the app and run automatically. For this purpose, users connect the savedroid app to their existing current account, define personalised rules which correspond to their lifestyle, and are given a free savings account with the Wirecard Group where their savings are safely put aside.
Dr Yassin Hankir, Founder & CEO of savedroid: "With today's launch of savedroid, Germany's first intelligent savings app, we are revolutionising the banking market. In Wirecard, we have found a reliable and experienced partner for this process, who fulfil all the relevant technical and banking standards".
Thomas Wernet, Head of Sales and Business Development Issuing at Wirecard, adds: "Financial technology is our core business. We are pleased that savedroid has chosen to work with us. The trend of FinTech companies providing new solutions in a traditional environment is continuing. We offer these companies internet technologies and banking services".
Wirecard AG is a global technology group that supports companies in accepting electronic payments from all sales channels. As a leading independent supplier, the Wirecard Group offers outsourcing and white label solutions for electronic payments. A global platform bundles international payment acceptances and methods with supplementary fraud prevention solutions. With regard to issuing own payment instruments in the form of cards or mobile payment solutions, the Wirecard Group provides companies with an end-to-end infrastructure, including the requisite licences for card and account products. Wirecard AG is listed on the Frankfurt Securities Exchange (TecDAX, ISIN DE0007472060, WDI). For further information about Wirecard, please visit http://www.wirecard.com or follow us on Twitter @wirecard.
savedroid AG is a FinTech company. Its goal is to help young people to put money aside in the course of their everyday activities, which can then be used as they wish. Personalised savings rules - also known as "smooves", a contraction of "smart saving move" - allow users to turn everyday habits such as practising sport, checking their smartphone, using social media apps or shopping, into pure savings. savedroid AG was founded in September 2015 by Dr Yassin Hankir, Marco Trautmann and Tobias Zander. The company has been part of the Deutsche Börse Group's FinTech Hub since May 2016 and has offices in Frankfurt and Mainz, Germany. For more information, please visit https://www.savedroid.com
Wirecard media contact:
savedroid media contact:
Dr Yassin Hankir