FNBO and Visa to Release Digital Wallet Card

First National Bank Omaha (FNBO) announced the beginning of cooperation with Visa in order to provide its customers with the best service for working with a virtual wallet.

FNBO and Visa to Release Digital Wallet Card

The financial institution announced the beginning of a partnership with the giant of the payment industry last Thursday, August 22. The Bank noted that this interaction will provide instant delivery of the user’s mobile wallet account data without the need to download the lender’s app.

Clients of a financial institution will receive an account number automatically uploaded to their virtual wallet after applying for a bank card. Consumers will be able to immediately use the new card from the digital storage of personal funds. The financial institution claims to be one of the first issuers to offer such a service.

Jerry J. O’Flanagan, Executive vice president of FNBO, says that in the space of modern culture, which is characterized by a high speed of human activity processes, access to the wallet is a matter of particular importance. He also noted that the bank is happy to cooperate with the giant of the payment industry and stressed that the partnership with Visa guarantees customers access to the account with one touch of a finger.

Users can apply for a card using a QR code from participating partners. They will be notified of the response to the sent request and will receive instant access to the virtual wallet in case of a corresponding decision of the financial institution.

Tolan Steele, Head of Global Core Products at Visa, says that impeccable service is a factor of critical importance in the modern landscape of the financial sphere, which is characterized by permanent change. He stated that the company, together with a financial institution, strives to create innovative products, including instant digital issuance for virtual wallets of consumers, and at the same time adheres to the principle of the need to ensure convenience and a high level of security.

Currently, there is an increase in demand for mobile wallets as a payment tool. In a practical way, consumers come to understand the advantages of digital solutions that provide convenience and high speed of transactions. In the United States, in the period from the third quarter of last year to the first quarter of 2023, the frequency of use of mobile wallets increased by 11%.

As we have reported earlier, Visa Launches Africa Fintech Accelerator.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.