Insurer Allianz has signed a partnership with Visa to launch a new payments and loyalty app called Allianz Prime, enabling customers to make secure payments with their mobile both in-store and online.

The app, which features built-in token technology for security, also features a loyalty programme and a money management tool for customers to keep on top of their spending. Users will be able to complete payments anywhere in the world where contactless payments are accepted.

Once a customer has registered for the service, a virtual Visa account will instantly be issued and can be topped up from any existing bank account or via the customer’s credit card. The transactions are processed by Wirecard, which is also integrating the loyalty programme.

Mike Lemberger, senior vice president of product solutions Europe at Visa, said: “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.

“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.”

Matthais Wünsche, head of market management and innovation at Allianz Partners, added: “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 anytime, 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.”

The app will initially be tested in Italy with a sample of Allianz customers.

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