Wirecard, ReiseBank enhance travel money app with cash top-up capability
Wirecard is expanding its collaboration with ReiseBank, a provider of travel money in Germany. The partners launched the bankomo mobile money app last year, and are now adding functionality that allows users top up their account with cash at retail businesses, according to a press release.
A bankomo account can be opened within just a few minutes through video authentication via the app (available for both iOS and Android), or online at www.bankomo.de. The account is linked to a prepaid MasterCard, which allows nearly instant peer-to-peer money transfers to other bankomo customers (peer-to-peer).
The account also supports traditional banking services, such as SEPA transfers and direct debits, as well as standing orders, and is enabled for cash withdrawal at any one of 300 ReiseBank ATMs across Germany.
"State-of-the-art banking solutions such as bankomo show how international apps can be expanded with useful value-added services," Julian Weste, vice president of fintech and financial institutions at Wirecard, said in the press release.