ING Germany has tapped Paysafe’s money arm, viafintech, to supply its customers money deposit and withdrawal providers.Utilizing ING Germany’s Banking to Go app, prospects can deposit and withdrawal money at greater than 12,500 collaborating brick-and-mortar shops.Withdrawals are free, however prospects might be charged a 1.5% charge on the full quantity they deposit.
International funds platform Paysafe introduced at the moment that its money arm, viafintech, has partnered with ING Germany. Beneath the settlement, ING Germany will leverage viafintech for its money deposit and withdrawal options.
viafintech’s know-how will allow ING Germany to supply its nine-plus million prospects to entry a brand new function, ING Money, in its Banking to Go app. The device will empower customers to make money deposits or withdrawals from their present account at collaborating brick-and-mortar retailers.
Right here’s the way it works: a buyer decides how a lot they need to withdraw or deposit, and the app generates a barcode that they will scan at a collaborating brick-and-mortar retailer. Presently, ING Germany has greater than 12,500 collaborating shops in Germany, together with Rewe, Penny, Rossmann, and dm drogerie Markt.
Customers are usually not required to make a minimal buy on the retail places. And whereas it’s free for them to withdrawal funds, ING Germany costs a 1.5% charge on the full quantity they deposit.
viafintech was based in 2011 and was acquired by Paysafe in 2021. The corporate’s API presents organizations entry to its fee infrastructure that allows money withdrawals and deposits, invoice funds, credit score payouts, cashless fee strategies, pay as you go options, and present playing cards.
Paysafe is a legacy participant within the fintech house, having launched in 1996. The U.Okay.-based firm presents fee processing, digital pockets, and on-line money options connecting companies and customers throughout 100 fee varieties in over 40 currencies all over the world. Final yr, Paysafe processed $120 billion in transactions. The corporate is publicly listed on the New York Inventory Alternate beneath the ticker PSFE and has a market capitalization of $824 million.
Photograph by Dom J