N26 Becomes First Neobank to Join Bizum

Bizum has arrived at N26. The online bank has announced that all customers with a Spanish IBAN can now “send, receive and request money through the popular mobile payments solution.”

In addition, the online bank’s app will “incorporate the Bizum functionality to pay at partner merchants in early October.” Thus, N26 becomes the first neobank “to integrate Bizum into its payment methods and continues to expand its range of services and functionalities to offer the best banking experience.”

With the arrival of Bizum, N26 has “reached a new milestone in its unstoppable expansion in the Spanish market.” In less than five years, the neobank, the first in the country to operate with a European banking license and branch in Spain, has “positioned itself as one of the leading online banks, with close to 900,000 customers and a team of more than 300 employees in Madrid and Barcelona.”

During this period, N26 has considerably “expanded its 100% mobile experience beyond payments, entering the world of insurance and, more recently, credit with the launch of ‘N26 installments’.”

Marta Echarri, Managing Director of N26 Spain and Portugal, said:

“[This agreement] is another example of our commitment to offer a product solution built around customer needs. Today, in an increasingly interconnected and immediate world, Bizum is indispensable in the daily lives of many people and a payment method that our customers have been asking us to incorporate for years. In this way, N26 becomes the first neobank to offer the benefits of operating with Bizum while continuing to build a user experience that helps customers achieve their financial goals and live their way.”

Innovation is part of N26’s DNA and the bank has always “maintained a cutting-edge approach in the area of mobile payments.”

In 2017 it launched MoneyBeam, a service for customers that “allows them to send money to contacts with an N26 account in real time and for free.” Likewise, in 2021 the mobile bank incorporated Split the bill, “a functionality that makes it easy to split the cost of any type of bill or purchase with friends, family and other people – customers and non-customers – through the app itself.”

Now, with the arrival of Bizum, N26 reinforces its payments solutions “to give its customers access to a wider range of possibilities.”

Bizum is “a payments solution that is only available to clients with accounts that have a Spanish IBAN.” The service will “not be available to those N26 clients whose accounts have a German IBAN.”

As covered, 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 “welcomed more than 7 million customers in 24 markets. N26 has a 1,500-strong team of 80 nationalities based across the globe.”

It has teams “based in 10 locations: Amsterdam, Berlin, Barcelona, Belgrade, Madrid, Milan, Paris, Vienna, New York and São Paulo.”

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