The change in the system of commissions that we paid the users when removing cash caught up with ING, although they were able to face this new challenge with solvency. The Dutch entity has few offices and cashiers in the Spanish geography, so they had to negotiate with other entities to offer their customers the possibility of withdrawing money at ATMs, but also relied on technology to enable more withdrawal points effective.
This was the birth of Twyp Cash, an application with the cashback system in use for years in other countries, which allowed ING customers to obtain cash at Day stores, Shell and Galp gas stations and Disa service stations. Only with those collaborators were more than 3,500 points added to the level, but that number will now multiply to become Twyp Cash points more than 13,000 tobacconists .
Zero commissions and without minimum purchase
ING has managed to find a technological partner to facilitate its clients the task of obtaining cash. Twyp Cash has neither a trap nor a cardboard it allows to withdraw cash (from 20 to 150 euros per operation) in any of the establishments adhered without any commission, in exchange for making a purchase in the same although there is no minimum purchase to be made in order to obtain the cash.
Twyp Cash works using single-use barcodes, does not need NFC
Twyp Cash works in a very simple way. When going to pay in any of the associated establishments we have to select the amount to withdraw, which can be equally zero, and will generate us a bar code that will be the one that scans the employee of the store. At that moment he will know the amount that he has to deliver and the account associated with the app will be discounted both the purchase and the cash requested.
In a market where different payment solutions flourish, it is at least curious that there is a system based on something as old as barcodes although steps to pay are more than in payments through NFC, and that also serves to withdraw cash. The question is why other banks do not imitate this service, which removes the barrier of having NFC limiting their systems.
In Xataka Mobile | Twyp Cash, how it works and experience using the ING app to pay and withdraw cash in different stores