Allianz launches payment app

Company brief

Assistance and insurance company Allianz Partners has partnered with Visa to create a new mobile payment and loyalty app for its customers. Allianz says that the app, Allianz Prime, is the first of its kind within the insurance industry. Customers will also be able to claim loyalty bonuses for using the payment app.

Allianz Prime will feature built-in security technology pioneered by Visa that replaces sensitive payment card account information with a unique digital identifier (a ‘token’) that can be used to process payments without exposing actual account details, according to Allianz. Other benefits of using the app with be a loyalty programme, smart spend money tracker and Allianz Partners’ Digital Payments Protection.

Allianz has announced that the programme is to be tested in Italy on a selection of its customers. The transactions and the loyalty programme within the app will be integrated by Allianz’s digital financial technology partner Wirecard.

“We are delighted to join forces with Allianz Partners to offer their customers an integrated mobile solution which combines payments, spend tracking and enhanced insurance services in an innovative way,” says Mike Lemberger, Senior Vice-President, Product Solutions Europe at Visa. “With the launch of their first mobile payment app Allianz has not only created a new way to engage and reward customers but is also offering them a new, secure way to make payments worldwide – online and in stores – while also helping consumers keep track of their spending.”

Matthias Wuensche, Head of Market Management and Innovation at Allianz Partners, added: “With the support of our digital partners Visa and Wirecard, the Allianz Partners Innovation Team has created Allianz Prime. A solution that provides our customers with freedom and security via safe and insured mobile payments off- and online, any time, anywhere. Moreover, it offers a global platform to our Allianz Operating Entities to engage with their customers on a daily basis, enriching traditional insurance with technology and services.”