Users of boon Planet will be able to open an account, access personal financial management tools, transfer money and conduct contactless payments both on their phone and via a linked Mastercard.

The new account is initially being rolled out to several hundred guinea pigs, before becoming widely available for both new and existing customers in October.

Claudia Kaub, head of consumer solutions at Wirecard, says, future iterations of the account will include loyalty features and mobile insurance. “In the future we will offer all our users the whole world of digital payment and banking. With boon Planet, we will set new standards so that our users no longer have to leave the app for their everyday finances.”