Financial technology provider Wirecard will be updating its mobile payment app, boon, with new features including P2P capabilities.

Up until this point, boon has worked as a typical payment app, used to transact inside stores. Wirecard’s upgrades will now allow users to access a greater range of banking services through the app, including the use of the new “micro credit” feature.

boon’s “micro credit” ability will assess a user’s credit in real-time, before providing flexible “loans” to the user. After real-time approval, the loan amount is added directly into a user’s boon prepaid balance, essentially providing a tailored, flexible overdraft experience.

In addition, Wirecard will update the app for online payments, supported with a Mastercard-powered digital credit card. This feature is already available for Android users of boon; “micro credit” will become available for users this November.

The ability for users to make P2P transactions will be available to users (both Android and iOS) by the beginning of 2018, according to customer statements.

Read more at PRNewswire and Finextra.