Berlin, October 20, 2020 – Vivid Money, the mobile financial platform for banking, saving, and investing, now offers all users Apple Pay. With Google Pay already available, Android and iOS users now both have the option for simple, secure, and fast payment options directly from their smartphones. Vivid Money users can add both their metal Visa debit card and all virtual Visa debit cards to the Apple Wallet. Thus, iOS users can now also pay with their Vivid Money account immediately after opening an account. Even before the physical card arrives, users can add the Visa debit card to the Apple Wallet.
With mobile banking, Vivid Money gives users full access to all their financial needs wherever and whenever they need it. Using the latest technologies, banking is easier than ever. The launch of Apple Pay is a further step towards enabling all Vivid users to enjoy the practical benefits of mobile payment.
"The daily use of payment cards must be simple and secure: Thanks to NFC technology, the cards only have to be held near the payment terminal for the payment process. At the same time, no payment information is printed on our Visa debit cards. Contactless payment methods have proven to be particularly effective in the current exceptional situation. With Apple Pay, all of our iOS users can now authenticate and pay securely and conveniently via their smartphones – regardless of the height of the payment – without even having to touch the card reader," comments Alexander Emeshev, co-founder of Vivid Money, on the launch of Apple Pay for all customers.
Secure mobile payments
Vivid Money offers one of the most secure payment cards, the metal Visa debit card, which doesn't reveal any account or card information on the card. With Apple Pay, which focuses on privacy and protection of data, Vivid Money users reach another level of security. When using Apple Pay, instead of the real debit card number, a unique device account number is assigned to the Apple device, encrypted and securely stored on the device. Each transaction is authorized with a unique and individual dynamic code. This means that not even the user's Visa card number is shared with the local shop or on the Internet. Each payment is completely contactless and is authenticated by fingerprint, face, or six-digit device code.
Mobile payment with physical and virtual Visa debit cards
Thanks to free sub-accounts called ‘Pockets’ that each have their own German IBAN Vivid Money users have maximum control over their finances and can manage them conveniently – to save up for their dream vacation or for their household budget account. Both Visa's physical Vivid Money debit card and virtual Visa debit cards can be assigned to any Pocket. Users can add the Visa physical debit card and also any Vivid Money virtual Visa debit card to the Apple Wallet for online and in-store payment. All sales are debited from the respective linked Pocket. This expands the possibilities for users to organize their own finances.
All benefits, such as cashback from various grocery stores or mobility providers and the Champion program, which allows every Vivid Money customer to receive 10 percent cashback in restaurants, also work with Apple Pay. Further information about the cashback program can be found here: https://vivid.money/de-de/cashback/
How Apple Pay works
Apple Pay is easy to set up and users continue to receive all the rewards and benefits of credit and debit card providers. In retail, Apple Pay works with the iPhone SE, iPhone 6, and above and the Apple Watch.
Online shopping via apps and on websites that accept Apple Pay works simply by Touch ID or double-clicking the page button to authenticate via Face ID. With Apple Pay, there is no need to manually fill out lengthy account forms or repeatedly enter shipping and billing information. When paying for goods and services in Apps or Safari, Apple Pay works with iPhone 6 and above, iPhone SE, iPad Pro, iPad (5th generation and above), iPad Air 2, and iPad mini 3 and above. Apple Pay can also be used in Safari on any Mac introduced in or after 2012 with macOS Sierra, and payment can be confirmed with iPhone 6 or higher or Apple Watch or Touch ID on the new MacBook Pro and MacBook Air.
Further information about Apple Pay is available at https://www.apple.com/de/apple-pay/
About Vivid Money
Vivid Money is the first financial service platform that combines all your daily money needs in one app. Whether it’s spending, saving, or investing – Vivid Money offers an easy, flexible, and transparent solution to grow your money. The company's mission is to provide customers throughout Europe with a superior banking and investment experience and to offer a wide range of financial services (including savings accounts, multi-currency accounts, and stock exchange) without unnecessary fees. Vivid Money was founded in 2019 by Artem Yamanov and Alexander Emeshev in Berlin and consists of an international, highly qualified team of more than 130 employees. TCS Group Holding PLC, a leading provider of online financial and lifestyle services via its Tinkoff ecosystem, has agreed to become an anchor seed investor.
For more information, please visit vivid.money