The two partners are now enabling users to top up their smartphone account with cash at retail businesses, without a minimum purchase requirement. Users are provided with a digital banking ecosystem in the form of the bankomo app.
The account can be opened and managed within a few minutes via video authentication using the intuitive app (iOS and Android) or online at www.bankomo.de. It is linked to a prepaid Mastercard, which enables money to be transferred to other bankomo customers (peer-to-peer) within seconds and also supports traditional banking services, such as SEPA transfers and direct debits. In addition, cash can be withdrawn at any of the 300 ReiseBank cashpoints across Germany. To pay in or withdraw cash, users can simply create a barcode in their bankomo app, which is then scanned at the supermarket checkout to enable the payment or withdrawal.
Wirecard is thus leveraging its position as ReiseBank’s technology partner; a partner network of around 9,000 branches across Germany is available for cash payments, which includes Rewe, Penny and Real among others, with Rossmann also joining from April 2018 onwards. For more information about the company, please check out a detailed profile in our dedicated, industry-specific online company database.
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