Wirecard Digitalizes Banking Services for ReiseBank's bankomo app

ASCHHEIM, Germany, February 15, 2018 /PRNewswire/ --

- Wirecard to support the bankomo app in its role as technology partner - a complete digital ecosystem that offers users international banking  

- App users can now also pay cash into their mobile banking account at supermarket checkouts 

Wirecard, the digital financial technology specialist, is today expanding its collaboration with ReiseBank, the market leader in the field of travel money in Germany. The partners launched the mobile banking app bankomo on the market just last year. Now, they are adding to this by enabling users to top up their smartphone account with cash at retail businesses, without a minimum purchase requirement.

Wirecard and ReiseBank are providing users with a completely digital banking ecosystem in the form of the bankomo app. It is above all people with high mobility that stand to benefit. The account can be opened and managed within just a few minutes via video authentication using the intuitive app (iOS and Android) or online at http://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 as well as standing orders. Furthermore, cash can be withdrawn at any of the 300 ReiseBank cashpoints across Germany.

By expanding cash payments and withdrawals, Wirecard is leveraging its position as ReiseBank's technology partner to make digital banking even more appealing. A partner network of around 9,000 branches across Germany is available for cash payments. This includes Rewe, Penny and Real among others, with Rossmann also joining from April 2018 onwards. 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.

Julian Weste, Vice President FinTech & Financial Institution at Wirecard: "Thanks to our expanded partnership, ReiseBank can offer its customers increased value added immediately. State-of-the-art banking solutions such as bankomo show how international apps can be expanded with useful value-added services. This is making digital banking even more appealing."

Jörg Hübner, Management Board member at ReiseBank, adds: "With the new services offered by bankomo, we are giving our customers what they want: the ability to easily make withdrawals from or to pay money into their account across the country. This clearly allows our international target group to be much more flexible when it comes to managing their finances."

About Wirecard:  

Wirecard AG is a global technology group that supports companies in accepting electronic payments from all sales channels. As a leading independent supplier, the Wirecard Group offers outsourcing and white label solutions for electronic payments. A global platform bundles international payment acceptances and methods with supplementary fraud prevention solutions. With regard to issuing own payment instruments in the form of cards or mobile payment solutions, the Wirecard Group provides companies with an end-to-end infrastructure, including the requisite licences for card and account products. Wirecard AG is listed on the Frankfurt Securities Exchange (TecDAX, ISIN DE0007472060, WDI). For further information about Wirecard, please visit http://www.wirecard.com or follow us on Twitter @wirecard.

About bankomo: 

bankomo is an online and smartphone-based account solution that is above all for people from a migrant background with high mobility. The account is simple to use and has no access threshold. Both German and English user interfaces are available (Spanish, French and Turkish coming soon) and does not require any credit checks (e.g. by Schufa) or a minimum payment amount. On the contrary, the account is prepaid only (i.e. no borrowing is involved) and so the customer is protected from any debt traps. It takes just a few minutes to open the account via video authentication and is then accessed using the intuitive app (iOS and Android) or a computer. The prepaid Mastercard enables money to be transferred to other bankomo customers (peer-to-peer/P2P) within seconds and of course also supports traditional banking services (SEPA transfers and direct debits, standing orders). Most basic features are covered under the fair use policy for a monthly rate currently set at EUR 4.90, and the prepaid Mastercard is included in the basic fee too. bankomo is a ReiseBank AG brand and a Wirecard Bank AG service.

Wirecard media contact:
Wirecard AG
Jana Tilz
Tel.: +49(0)89-4424-1363
Email: jana.tilz@wirecard.com

SOURCE Wirecard AG