German fintech firm Wirecard has introduced a new payment app, called boon Planet, with neo-banking services.

The app will enable the users to create a digital bank account, transfer money and conduct contactless payments.

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The customers will also receive a physical debit Mastercard as part of the offering.

Currently, the app is available only for Android users in Germany. The company noted that the offering will soon be launched in other countries as well as for iOS users.

Wirecard head of consumer solutions Claudia Kaub said: “After a successful pilot phase, we are very pleased to announce the general availability of boon Planet.

“Not only do we cover the entire world of digital payment and banking from a single source, but can also progressively expand our ecosystem and add new relevant services to make everyday life easier for consumers.”

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boon Planet app: Other features

The app offers users a complete history of their finances and expenditure. Users can also connect their other bank accounts within the app using the multi-banking function to gain a comprehensive financial overview.

Wirecard also plans to add other banking services such as savings and overdrafts into boon Planet.

Other financial services including insurance, mobility and loyalty programmes, will also be integrated.

With every payment, the users will earn digital bonus points and can redeem the funds for making payments through the app.

Last month, US fintech Credibly partnered Wirecard to digitalise SME funding disbursements.