NUMBER26 customers can now order an NFC-enabled card from MasterCard International’s lead debit brand, Maestro, bringing cashless payment options to more than 650.000 locations throughout Germany and Austria.
The key benefit of the Maestro card is the expanded opportunities to shop without cash at more retailers. This is particularly important in Germany, where credit card acceptance at retailers is lower than in some other markets.
Launched earlier in 2015 in Germany and Austria, the startup bank operates entirely on a smartphone and currently plans to expand to Spain, Italy, Ireland, Slovakia, Greece and France.
Dubbed the “Simple for Europe,” NUMBER26 uses strategic partner Wirecard Bank’s license and its backing to create a banking network that is not dependent on a branch system.
All transactions can be completed on smartphones in a “transparent, mobile and secure” way, NUMBER26 claims.
The solution aims to instill trust and understanding among mPayments users as a crucial step in growing the adoption of mPayments among German shoppers.
German retailers are expected to replace 200.000 to 300.000 old payment terminals over the next three years and will most likely move to ensure contactless payment functionality is available.
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