ING presented on Thursday a new mobile application to pay and withdraw money without cost in stores. At the moment, they are attached to this service supermarket chain Dia Group and Galp service stations and Shell, totaling 3,500 points free extraction of money, but the bank does not rule out extending it to more companies. The cash withdrawal limit for this channel will be 1,000 euros per month. The application will be available from September 26
- The banking system creates an instant mobile payment
- Samsung Pay will be released in Spain on June 2
the new app , Twyp Cash (English the way you pay), was presented at a joint conference ING and day in Madrid. The CEO of Dia, Ricardo Currás, explained that the cash withdrawals may only be made from the mobile, no card, the amount should be between 20 and 150 euros and will be required to purchase something in the store, though It does not require a minimum purchase. The management has stated that the service will only be available in 2,900 own stores of the Group, all companies that form – Dia Market, Dia Maxi, La Plaza de Dia, Clarel and the tree – but not be able to withdraw money franchised branches.
the general director of ING in Spain, Almudena Román, explained that the new service aims to respond to bank customers, who spend more and more time looking where to get money without cost since large entities (CaixaBank, Santander and BBVA) increased commissions for cash withdrawal at ATMs of their networks.
Making everyday moments to extract money
the executive stressed that the bank has inspired orange for application development solutions existing in other countries such as China, the United States, Mexico, Germany, United Kingdom, New Zealand and the Netherlands. The idea is that customers’ advantage moments of their daily lives “to make cash withdrawals, according to Roman. To use the service, you need the application, according to the director of the entity, works on any smartphone Android or iOS.
During the presentation has established a live connection to a branch of Square Day to show how the system works. The cash extraction process has three steps: the user enters Cash Twyp the amount to withdraw, then type the security pin and the application displays a barcode on screen is scanned by the store clerk. The purchase amount and extraction is charged automatically from the customer’s bank account. The application has a search engine of shops belonging to customers to find the closest.
“We are open to new partners,” he stressed Roman. The director has detailed the system allows more businesses in the service and more banks are incorporated, but has clarified that no further progress in this direction.