Mobile P2P Payments App Twyp a No-Go in the Netherlands, Will Continue Operations in Spain

ING plans to discontinue its P2P mobile payments app Twyp in the Netherlands after it failed to gain traction with customers, according to a release. Twyp CEO Mohamed de Booij indicated the decision to close down the service in the Netherlands was made following feedback from Dutch users that a separate app for payments not linked to a customer’s Iban account number had insufficient added value. Launched this year, Twyp will continue to operate in Spain where it currently counts more than 300,000 users.

mohamed-de-booij“The Spanish market for mobile banking is different from the Dutch. Mobile banking apps in Spain have less functionality than Dutch apps,” observed de Booij.

Dutch users had their Twyp account monies into their bank account on 24 November while Twyp accounts will officially close on 15 December, being blocked from that point forward. Twyp users are encouraged instead to adopt ING’s mobile banking app, which was recently extended to include person-to-person payments.

Added de Booij, “The ING Mobile Banking App is well appreciated by customers and there are constantly new features added to the app such as the recent payment request where customers of ING and other Dutch banks can pay via WhatsApp, SMS and email.”

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