Digital Wallets

Wallets, transformed.

Digital wallets allow customers to store and use their payment cards digitally, substituting sensitive data with a 'token'. Increasingly, they're also becoming a way to store other things such as loyalty cards, tickets and currency balances.

As more consumers use their smart devices to browse and shop, demand for digital wallets continues to grow, with payments through wallets such as Apple Pay and Google Wallet expected to reach $19.6 trillion by 2027.

Whether designing a new card programme or enhancing an existing one, a digital experience enabler and tokenisation proposition is an important consideration.

Gaining the competitive edge.

Enhanced experiences.

Make customer spending feel seamless and promote increased card use, with a programme that leverages digital wallet capabilities.

Rapid deployment.

Remove roadblocks and launch fast with a single partner that can bring your vision to life at speed and reduce your operational overheads.

Sophisticated security.

Minimise fraud risk and enhance security through tokenisation, protecting cardholder information and providing peace of mind.

Working with Thredd.

To add a card to a digital wallet, any sensitive data must be replaced with substitute information that has no exploitable value, called a token. This is one of the reasons that digital wallet transactions are viewed by many as a much safer payment method than contactless.

Tokenisation is enabled through a Token Service Provider (TSP), such as Visa or Mastercard, and a Token Requestor that requests and stores tokens for payment cards.

We can help your business build a wallet programme, by setting you up with the relevant Token Requestors including:
- Mobile Wallet Token Requestors such as Apple and Google, who provide a token service via a smartphone or other mobile device.
- Online Merchant Token Requestors who tokenise a payment card so that the token can be used for repeat payments or recurring payments on their website (also known as card-on-file payments).
When a customer adds a card to a digital wallet, it needs to go through a process called 'provisioning'. Making sure this onboarding is as seamless and pain free as possible is important, to improve customer satisfaction and reduce abandonment rates.

There are several ways a customer might add a card to their chosen wallet:
- In-App 'Push' Provisioning
  This is where a customer uses their card issuer’s app to push the card directly into their digital wallet. They don't need to manually input any sensitive information and the card is available to use instantly, making it convenient and secure.
- Manual Provisioning
  For this method, the customer needs to manually add their card details into the digital wallet, including name, PAN, CVV, and expiry date. Additional checks are needed to verify this data, by both the wallet provider and card issuer.
When designing your programme, it's important to consider which method is the best fit for your business and your end user. Our experts are on hand to help walk you through this process and bring your onboarding vision to life.
Your cardholders expect payment mechanisms that are instantly available and embedded in their mobile device, from smart watch to smartphone.

The benefits of offering an enhanced digital experience are considerable, for both business and end user.

Business benefits
- Higher card activation rate and increased usage
- Cost savings, compared to printing and shipping physical cards
- Streamlined operations through integration with only a single partner for all your tokenised card needs
- Speed to market with reduced operational overheads
- Round the clock support from an expert team
Cardholder benefits
- Reduced fraud risk through tokenisation
- Convenient and seamless user experience
- Ability to use for both e-commerce and in-store purchases