N26 launches CASH26 in Greece for the withdrawal and deposit of cash
CASH26, the service offered by the Mobile Bank N26, now allows customers to withdraw and deposit cash at Bazaar supermarkets directly from the smartphone.
Berlin - Starting from March 30, CASH26 will arrive in Greece, whereby N26 customers will be able to use 110 partner Bazaar stores as ATMs for cash withdrawal and deposit. The service, already successfully active in Germany, Austria and Italy, will be implemented for the first time in Greece by a mobile bank in partnership with viafintech and aims to simplify the life of its customers, offering the possibility of depositing and withdrawing from grocery stores, directly from the supermarket checkouts.
In Greece, cash continues to be the most popular means of payment, with 75% of point-of-sale transactions by value taking place in cash. N26 has chosen not to have traditional bank branches, but to allow customers to deposit and withdraw money also without going to ATMs or bank branches, offering the possibility to do so via their smartphone, without using the card, in collaboration with selected retailers. CASH26 is simple to use and intuitive: for all N26 customers, it is sufficient to use the mobile app, through which they can find the closest partner store on the map. From there, the user can generate their own barcode, choosing the deposit or withdrawal option. Once the code has been obtained, the store checkout staff will scan it, and then carry out the withdrawal or deposit operation of the requested amount.
"CASH26 meets the needs of the Greek customers, who are still closely tied to the use of cash for all the daily expenses. N26 customers will be able to withdraw and deposit money at Bazaar’s stores using their smartphones only", comments Andrea Isola, General Manager South East Europe of N26, explaining “we are particularly proud to be the first mobile bank to launch this kind of service, in partnership with viafintech and Bazaar's stores. Our goal is to offer to Greek customers a high value service, totally tailored to their needs: with CASH26, using a practical and simple solution, we have combined the time of shopping with the needs of withdrawal and deposit, guaranteeing a significant saving in terms of time and spending".
Antonios Peppas, General Manager Greece at viafintech states, "Especially in these challenging times, we are extremely proud to bring a solution to the Greek market that will simplify the everyday life of many people. The collaboration brings together the strength of fast-to-market solutions of Fintechs like viafintech, the innovational power of challenger banks like N26 and the market expertise of traditional retailers like Bazaar supermarkets. A strong partnership that will save money and time for many customers".
Moreover, on the occasion of the launch of CASH26, N26 and Bazaar launched two special offers for their customers:
- once N26 customers deposit or withdraw money with CASH26 at a Bazaar’s shop, they will receive a receipt with a 5% discount to be used immediately or for their next purchase
- Bazaar will send an email to its customers with an exclusive promotional code. Bazaar customers who sign up to N26 using the promotional code will get a 10 EUR discount on their first purchase of at least 10 EUR.
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N26 is building the first mobile bank the world loves to use. Valentin Stalf and Maximilian Tayenthal founded N26 in 2013 and launched the initial product in early 2015. Today N26 has more than 7 million customers in 25 markets. The company employs more than 1.500 employees across 8 office locations: Berlin, Barcelona, Madrid, Milan, Paris, Vienna, New York and São Paulo. With a full European banking license, state-of-the-art technology and no branch network, N26 has redesigned banking for the 21st century and is available on Android, iOS, and desktop. N26 has raised close to EUR 800 million from the world’s most established investors, including Insight Venture Partners, GIC, Tencent, Allianz X, Peter Thiel’s Valar Ventures, Li Ka-Shing’s Horizons Ventures, Earlybird Venture Capital, Greyhound Capital, Battery Ventures, in addition to members of the Zalando management board, and Redalpine Ventures. N26 currently operates in: Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland and the US, where it operates via its wholly-owned subsidiary, N26 Inc., based in New York. Banking services in the US are offered by N26 Inc. in partnership with Axos® Bank, Member FDIC.
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