Global Lending Services Delays Launch of Mobile Wallet

Subprime lender Global Lending Services pushed back the launch date of its mobile wallet functionality, which will allow consumers to make auto loan payments from their mobile devices, Chief Executive Steve Thibodeau told Auto Finance News.

Initially slated for yearend 2018, the new capability will now be rolled out in March or April. The mobile wallet is the last item in a list of consumer-facing investments GLS has made in the past year. It was sidelined as the company prioritized the completion of its online and mobile-enabled consumer portal.

“The customer has more capabilities, more information about their account, and can sign up for different activities,” Thibodeau said. “The last piece of that is being able to push that into their wallet so the customer goes to the portal and not only can you get it through your mobile app, but ultimately if you have an Apple wallet, you’ll be able to make your payments through that.”

Also read: Global Lending Services Doubles Originations for Second Straight Year

Mobile payments such as Amazon Wallet, Apple Pay, Google Pay, and Samsung Pay allow people to carry credit or debit card information in digital form on their mobile devices. Instead of using physical plastic cards to make purchases, consumers pay for items using fingerprint readers, face identification, and near-field communication technology on smartphones and smartwatches.

The consumer portal is in the pilot stage, being tested with a small number of consumers nationwide. In about 30 days, GLS will start to onboard the rest of the lender’s 100,000 consumers to the new portal, Thibodeau said.

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