PPS partners with Germany-based fintech pockid

Wednesday 7 April 2021 13:49 CET | News

PPS has partnered with pockid, a neobank for Generation Z consumers, according to the official press release. 

The service provides young people with a way to handle their money through an iOS and Android application, with a Mastercard debit card for spending both online and offline. pockid is set to launch in April 2021 in Germany, and with the help of PPS will be rolled out into other European markets in the coming years. PPS will support pockid with several key functions, including its e-money licensing with passporting capability into Germany and other EEA (European Economic Area) countries, the ability to make and process payments including card transactions and p2p, support for Google Pay and Apple Pay, and the option for saving wallets, all with an associated Mastercard debit card.

pockid required a scalable solution that could be adapted into multiple languages and adjusted in line with local regulations, as well as implemented with alternative payment methods which are a great form of secured and contactless payments – especially welcomed during the COVID-19 crisis. It is for this reason that pockid chose to partner with PPS as it met all these requirements while maintaining a high standard for its technology.

In Germany, a majority of generation Z have a monthly income, but lack the ability to spend it online. It is this issue that drove pockid to develop its app for the younger generation, supplying them with an avenue for spending their high rate of disposable income. Parents and legal guardians of pockid’s users will be given greater visibility to monitor their children’s spending habits and ensure the security of their children’s finances through a web application exclusive to them. The service also comes with a pocket money assistance feature giving parents the ability to transfer money directly into their children’s accounts through direct debit.

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Keywords: fintech, Gen Z, challenger bank
Categories: Banking & Fintech
Countries: Germany
This article is part of category

Banking & Fintech