App Threatens To Shake-Up Mobile Payments In Europe

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The banking app Number26 has just expanded into 6 new European countries. Number26 already operates in Germany and Austria, and will now be expanding into France, Spain, Italy, Ireland, Greece and Slovakia. Number26 allows users to open a bank account and get a MasterCard after they have downloaded the app. To open an account, users simply have to make a video call to a Number26 employee and show their passport. The app works just like a normal bank account, allowing users to deposit and withdraw money as they wish. It also allows users to disable online payments and ATM use via the app if the user suspects their details have been stolen. Another safety feature is that the app sends push notifications for all activities related to the account. For example, when a user makes a payment using their MasterCard, they receive a message while the card is still in the card reader. With its focus on safety and ease of use, Number26 has already attracted 80,000 users in Germany and Austria following its launch earlier this year. It hopes to boost this number even further with its expansion into the new markets, having chosen them for their relatively undeveloped and uncompetitive mobile banking landscapes. 

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