Wirecard has forged an alliance with mobile messaging firm websms to facilitate payments transactions through SMS or directly in the chat messenger.
The partnership is aimed at bringing new payment options for retailers and service providers amidst the ongoing Covid-19 crisis, which is forcing shoppers to switch to contactless payment methods.
Wirecard in its press statement said that retailers and service providers have touchpoints during the course of the customer journey with the integration of digital payment methods such as Apple Pay, in SMS or Messenger.
“This saves time, enhances the customer experience and enables convenient and secure purchase transactions,” the statement read.
Websms’ selected payment solution Pay by Link works by sending a link via Messenger or SMS to the customer. Once the customers click the link, they will be directed to the payment page hosted by Wirecard.
The partners hope that the integration of digital payments and commerce through messaging channels, called Conversational Commerce, may have potential as it offers businesses the chance to be closer to customers.
websms CEO Christian Waldheim commented: “We know from recent studies that today’s consumer wants to be in contact with companies primarily via a central channel and finds disruptions during the payment process annoying. Therefore, the combination of digital payment and commerce via messaging channels – in short: Conversational Commerce – has great potential that we want to unleash,”
“Opening rates of 70 to 90 percent and call-to-action rates of 15 to 30 percent confirm that messengers such as WhatsApp, Telegram and Co. are the places where companies can best reach their customers today. Mobile marketing therefore gives companies the opportunity to be closer to their customers – with SMS currently experiencing a comeback due to its high reach,” Waldheim added.