Wirecard brings digital touch to ReiseBank’s bankomo app
The duo launched the mobile banking app last year. An account can be opened and managed via video authentication using the app (iOS and Android) or online.
It is linked to a prepaid Mastercard, which enables money to be transferred to other bankomo customers (peer-to-peer) “within seconds” and supports traditional banking services, such as SEPA transfers, direct debits and standing orders. Furthermore, cash can be withdrawn at any of the 300 ReiseBank cashpoints across Germany.
Jörg Hübner, management board member at ReiseBank, says with the new services it provides the ability to “easily make withdrawals from or to pay money into their account across the country” and “clearly allows our international target group to be much more flexible when it comes to managing their finances”.
Wirecard adds that a partner network of around 9,000 branches across Germany is available for cash payments. This includes Rewe, Penny and Real, with Rossmann also joining from April 2018 onwards. To pay in or withdraw cash, users can create a barcode in their bankomo app, which is then scanned at the supermarket checkout to enable the payment or withdrawal.
bankomo has German and English user interfaces, with Spanish, French and Turkish on the way. It does not require any credit checks or a minimum payment amount. The account is prepaid only.