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German startup Number26 brings banking to retail stores

Monday 26 October 2015 00:29 CET | News

Number26, a German smartphone-focused banking startup, has partnered Barzahlen, another German startup, to bring cash withdrawal and deposit to 3,000 German retail locations, including drug stores, grocery stores and other chains.

While ATMs have become commonplace in retail locations, it is not common for users to have the ability to make easy deposits in stores. To use the service, Number26 members open the app at checkout, type in the amount of cash to be deposited or withdrawn, scan a barcode, enter a PIN to authenticate and then allow the cashier to perform the transaction, Business Insider reports. Transactions are reflected immediately in the user’s account balance.

So far, 50,000 people in Germany and Austria signed up for a Number26 account, according to techcrunch.com.


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Keywords: startup, Number26, banking, retail stores, Barzahlen, cash withdrawal and deposit, PIN, barcode
Categories: Banking & Fintech | Online & Mobile Banking
Countries: World
This article is part of category

Banking & Fintech