Paysafe’s (NYSE: PSFE) cash arm – viafintech – has started a new partnership with Germany’s third-largest bank by number of customers, ING Germany.
From today, more than nine million ING customers can make cash deposits or withdrawals from their current account at participating retailers across the country. The new cash feature, known as ‘ING Cash’ (locally known as ING Bargeld), is available within ING’s ‘Banking to Go’ app.
In order to use the service, the customer selects ‘ING Cash’ in the app and chooses the amount they want to deposit or withdraw. This generates a barcode that can be scanned at one of more than 12,500 partner stores in Germany and the amount can be deposited or withdrawn instantly. The partner store network includes Rewe, Penny, Rossmann and dm drogerie Markt, among others, and no minimum purchase is required.
‘ING Cash’ offers a simple and convenient alternative to traditional ATMs and expands the bank’s existing deposit and withdrawal infrastructure. It improves access to cash, particularly in rural areas where this has been greatly reduced due to a decreasing number of ATMs.
“We are delighted to be partnering with ING to enable easier and faster banking and access to cash for its customers through our leading cash solution and extensive network of distributors across Germany,” said Sebastian Seifert, SVP sales and business development at Paysafe.