Payment products innovations company Rêv has debuted its X World Wallet, an app-based multi-currency debit account, nationwide in the United States, according to a Tuesday (Jan. 4) press release.
X World Wallet comes with a loyalty program, a travel bookings portal and discounts, along with an integrated global sustainability initiative. The wallet can be loaded from a user’s bank accounts, and linked to Visa cards that can then be added to Apple, Google and Samsung Pay digital wallets.
The wallet will be marketed directly to consumers and through strategic partnerships, including community banks and credit unions.
Digital payments have become more ubiquitous over the pandemic, with new global popularity in part because of new FinTech products making it easier to enroll in mobile-centric, plug-and-play services.
According to Visa research, the tap-to-pay transactions were up 30% year over year, and an estimated 150 million Americans had used a digital wallet at some point.
“We are proud of the value The X World Wallet provides for customers,” says Roy Sosa, CEO of Rêv USA’s parent company, Rêv Worldwide, Inc. “In a world of high interest rates, we purposely built a proprietary loyalty program on a debit platform so customers could earn maximum rewards without the burden of high annual fees and interest charges that too often accompany affinity credit cards.”
PYMNTS recently reported that payments have taken on new factors as streaming media and other instant interactions have changed the expectations.
According to Elena Whisler, senior vice president at The Clearing House (TCH), real-time payments could see a boost in the coming year.
Real-time payments were around 17% of all disbursements from 2021, an increase from 5.7% in 2020. Companies have also chosen to pay employees in real time more often, which has shown the shift toward the gig economy and other such things.
