WOWSOME Interactive Bank Card- Frequently Asked Questions
In this post, we address the most pressing concerns and questions about our Augmented reality powered banking card, WOWSOME Interactive Card.
3 min read
In our last blog post, we introduced WOWSOME Interactive Card - a one-of-its kind banking card that offers an interactive banking experience to customers through smartphones. Like any new technology, it is bound to raise concerns, questions, and doubts about its functionality, security, and scalability. Through this post, we are going to address all these queries we have come across while dealing with our current clients. If anything is not covered, feel free to get in touch with us directly! , So, let's begin:
Interactive Banking Card FAQs
1. What do you mean by an interactive card?
Think of WOWSOME interactive card as your regular debit or credit card that becomes interactive with augmented reality technology. All one needs to do is to scan the card with a smartphone and experience interactive features.
2. What is Augmented Reality technology? Does it require a separate headset to experience?
To put it simply, augmented reality technology puts virtual content over the real surrounding and enhances ("augments") it with the relevant information. It does not require any additional equipment (that is the case with Virtual Reality). You can experience Augmented Reality technology with the help of your smartphone.
3. How exactly will the interactive card work?
You can have a separate Augmented Reality (AR) app for this. Another simpler option is we can integrate the AR functionality with your existing banking app. The users can access the feature from the app and scan the card to reveal interactive content and features on their smartphone.
4. What features are there in this Interactive card that makes it different from usual cards?
Your users often have to go through a complex process of finding information about relevant offers on their credit or debit cards especially when they are out. With interactive cards, all they need to do is to scan the card with their phone and they can get instantaneous information about the nearest shopping offers, food outlets, ATMs, etc.
6. Will my users need to login into their accounts or download an additional AR app to scan the card and access features?
You may have a separate app for the interactive card but the AR-capability can also be integrated with your existing banking app and will be accessible to all users of your app. The users do not need to login to their account and the feature can be availed through the welcome screen of your app.
7. What type of card information is scanned by this technology? Will the sensitive information like card number or customer name be scanned or recorded?
No, there is no access to private information of an individual customer to access shopping offers and avail miscellaneous features. Our technology only scans marker relevant to a particular type of card (say, for example, Platinum card) and reveals all offers and information on that card in the vicinity.
8. What if a card is stolen and someone else scans the card to access all details?
The card only reveals geo-location based offers and features on scanning. The usual way of using the card for payments with a pin or by swiping the machine still holds valid. In case of theft, the standard bank process of blocking the physical card would be applicable.
9. What is the advantage of a physical interactive card over completely digital cards?
Firstly, completely virtual cards are still not prevalent in usage. Secondly, their usage is limited to online payments and they cannot be currently used to pay on the counter for shopping, food bills, etc. WOWSOME card leverages the popularity of physical credit or debit cards as most people use them to withdraw cash or do offline transactions. The interactive features further increase the usage of cards by offering easy and fast access to information about relevant offers and benefits instantaneously.
10. Can I customize the interactive bank card to provide information as per my requirement?
Yes, definitely. You have a choice over what kind of features will be available to your users on scanning the card. So, for example, if you think, your users of one type of card are more interested in shopping, you can highlight the nearest shopping offers and if other card users look for dining offers, you can highlight offers in nearby restaurants.
11. Is it scalable? Can I add more features, for example, pulling out loyalty points or checking the account balance, later?
Yes, it is scalable. To have additional features like pulling out loyalty points or checking the account balance, it would need user login and access to the required data. This would require additional security authentication after discussion with your technology team.
The current version of WOWSOME Interactive Bank Card is agile and ready-to-be-integrated with your banking app in a short time. It does not require the user login so no sensitive or account-specific information is revealed.
Interactive Bank Card is one of the most sophisticated AR Banking solutions that help you incorporate the power of new technology into your organization and offer unique value to your customers. This is particularly useful when you have lot of customers in the age-group of 21-40 as they are likely to be more aware of technology and expect your bank to offer such state-of-the-art solutions. Reach out to us now to know more about these cards and discuss the scope of a pilot or full-scale implementation in your bank.