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Published on July 6th, 2019 | by Bibhuranjan

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Boon: The service that is shaking up the Financial Industry across Europe

Most young people know it: You have an account with an ATM card, but no credit card. This can be a significant drawback, because nowadays the lack of a credit card can severely curtail life. Because a credit card is needed almost everywhere to pay. Of course, there are also occasionally the possibility to pay with other options, such as SEPA transfer, PayPal or directly through a bank transfer, but you are always on the safe side with a credit card, with which one can always pay no matter where or what. This is because the seller always receives the money when making a credit card payment, while this can be a problem with the other options. If you want to book a hotel over the Internet is usually a credit card required, because of hotels are often other payment methods not accepted. That is why the article “Boon” is presented in this article.

Applications for Boon

First, what could Boon be good for? Well, for those who do not have a credit card for example. Because with Boon you get a virtual card without having to own one. Or for countries where Apple Pay is not yet available.

And then of course for the large area online shopping. No matter if you book a flight on Momondo with the credit card, make a deposit in an online casino like BitCasino, deposit a portfolio on online traders like Etoro or if you want to buy your new iPhone at Media Markt. With Boon you are at the start and most providers accept this card now. After all, it’s a Mastercard prepaid, which is spent there.

Where Boon is heading

Boon can be easily used; the first thing you must enter as the end user his personal mobile number in the app, then you must specify a password and define a security question. Then the service is already operational and can be used as a digital credit card. Boon then corresponds to a prepaid Mastercard. Prepaid simply means that you must have already loaded money before Boon works. To pay then you just must hold the phone with the boon open on the display of the cash register, so the same as you already know from other physical cards. The technology that enables this process is called NFC. You can also pay online with Book. Boon is just an extension of another service. Because with Boon you can just say simply use Apple Pay or Google Pay. With Apple devices, Boon can also be quickly and easily added to the wallet.

Thanks to Boon, you can pay easily and conveniently via the mobile phone, so you do not need a real card anymore and can, if you will, leave the apartment without a purse, because you can pay for everything with your mobile phone.

However, there are a few notable disadvantages to all these benefits: Boon is not completely free. In the first 3 months you use the app without any additional costs, but then you pay 1,49 euros. In addition, you cannot charge an arbitrary amount, because this is capped at 100 €. Once this value has been paid in and spent, the Basic version of the app will not be able to recharge and therefore not spend any new money. In addition, there is a certain disadvantage that Boon works on the mobile number of a user because this is the username of the account so to speak. So, if the number changed, you must re-enter access to his account through the customer service.

All in all, you must admit that Boon is a very interesting alternative to the original credit cards. Above all for younger people and very Internet affine people Boon should agree. So, if you do not have a credit card but you want it, it’s a good idea to use Boon.

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About the Author

Bibhuranjan

Editorial Officer, technofaq.org I'm an avid tech enthusiast at heart. I like to mug up on new and exciting developments on science and tech and have a deep love for PC gaming. Other hobbies include writing blog posts, music and DIY projects.



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