SAN FRANCISCO, June 15, 2017 /PRNewswire/ -- The FinTech and InsurTech company IATAI Enterprises (IATAI), which specializes in making mobile transactions, communications and other interactions quicker and easier across platforms, has joined forces with the payment solutions enabler BPP to develop Handy U, a universal and customizable payment, rewards and insurance solution for consumers, businesses and merchants.
Handy U is a reloadable Visa virtual/digital account that enables IATAI's travel and insurance clients to instantly make and receive payments, access benefits and redeem rewards generated by their loyalty programs. Handy U is hosted on IATAI's digital wallet, onepocket, which lets users combine several payment methods in a single transaction, both online and in-store.
Users will have secure mobile access to hotel and travel discounts, trip cancellation insurance, emergency medical coverage, theft protection, data protection and other services at home and abroad, for a small fee. Customers will also be able to redeem their reward points before and after their transactions.
If clients prefer, they can opt for a physical form of payment—a General Purpose Dual Interface prepaid card or a wearable, for example—in addition to a virtual one.
Thanks to Visa payWave's secure contactless payment technology, Handy U customers will be able to pay for small purchases at points of sale with just a wave of their card, wearable or device.
Handy U will also enable customers to use funds from their Visa debit and/or credit cards, combining the security and convenience of making purchases at millions of merchants worldwide that accept Visa cards.
Perhaps the most unique feature of Handy U is that the product can be tailored to the needs of individual consumers, businesses and merchants through tiered benefit packages and customized presentations.
Handy U will be launched in Latin America in Q3 2017.
"Handy U is an example of how we collaborate with our clients and the fintech community to innovate and co-create payment solutions that solve specific consumer pain points," said Allen Cueli, Senior Director of Products and Solutions for Visa Latin America and the Caribbean.
"Handy U is the result of a serious commitment made by our companies to use collaboration, technological innovation and human-centric design to generate robust value propositions for our clients," said José Coronel, SVP of BPP.
"We are honored to be BPP's valued technology partner and excited to launch the first of a pipeline of payment solutions we are co-creating to meet today's consumer needs in disruptive and engaging ways by offering payments, rewards, benefits and AI (artificial intelligence) for mServices," said Sergio Arana, CEO of IATAI.
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About IATAI Enterprises
Based in San Francisco and also present in Europe, Latin America and the Caribbean, IATAI Enterprises makes mobile transactions, communications and other interactions between merchants and consumers quicker and easier across platforms, using disruptive technologies such as artificial intelligence (AI) to improve user experiences when and where they matter most. IATAI's partners include Visa, CyberSource, Arch Underwriting at Lloyd's, Chubb, VTEX, Amadeus, Twilio, Salesforce and many other insurance, travel services, medical services and related companies. For more information, consult our website or follow us on LinkedIn.
Specialized in next generation payment methods, the company was born big. A world leader in the issuance of VISA prepaid cards, with more than 10 years of experience in foreign currencies cards, it has an extensive know-how in personal and corporate solutions in payment methods. With a focus on innovation, technology and ease, BPP offers the most complete range of products to manage the most different financial daily operations. For more information: www.brasilprepagos.com.br
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SOURCE IATAI Enterprises