Fintech Mobile Banking News

Mercury Financial Expands Opportunities for Financial Inclusion with Launch of Mobile Payments Technology

Mercury Financial Expands Opportunities for Financial Inclusion with Launch of Mobile Payments Technology

Mercury Financial, a financial inclusion technology company, announced today that its Mercury Mastercard, and co-branded credit cards, will now be available for digital wallets, increasing accessibility to payment platforms for underrepresented communities. Beginning today, Mercury Financial cardholders will have access to digital wallet and tokenization capabilities to make in-store, in-app and online payments at participating merchants from their Apple, Google or Samsung smart devices. These product innovations are in direct response to the increase in the near-prime market need for contactless payment accessibility and aligns with the fintech’s mission of utilizing technology to empower customers to build better credit.

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“We are maximizing our momentum by introducing mobile payment options to our customers and believe in our technology’s power to build Americans up in a recovering economy”

“This is a major milestone for Mercury Financial and allows us to fulfill our mission of providing digital solutions that help customers achieve improved credit and subsequently, less financial stress in their everyday lives,” said Andy Shah, chief technology officer at Mercury Financial. “By maximizing a customer’s mobile experience through security and simplicity, we are one step closer to a more financially inclusive world.”

Mercury Financial’s launch of digital wallets and tokenization offers the advantages of safety, rewards and convenience to customers focused on rebuilding credit. Its benefits include encrypted data to keep card account numbers safe upon payment, consistent rewards across both digital and physical credit cards. In addition to the benefits of digital wallets, customers receive enhanced security and ease of use when saving their credit card information with merchants that participate in tokenization.

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Digital wallet enablement is launching off the heels of a record-breaking third quarter, in which Mercury Financial provided access to more than $300 million in unsecured credit to new account holders, marking a 65 percent increase in total open accounts between September 2020 and September 2021.

“We are maximizing our momentum by introducing mobile payment options to our customers and believe in our technology’s power to build Americans up in a recovering economy,” said James Peterson, CEO of Mercury Financial. “As technology continues to advance and digital wallets are more frequently used, Mercury Financial is dedicated to providing our expanding customer base with best-in-class products that exceed expectations.”

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