N26 to Leverage Allpoint Network’s Surcharge-Free Cash Access for its US mobile banking app
October 23 2019 - 9:00AM
N26 Inc., the US subsidiary of German mobile bank N26 GmbH, has
chosen Cardtronics’ Allpoint Network and its 40,000 U.S.-based
surcharge-free ATMs to power its cash access strategy for its
recent expansion into the United States. Boasting 3.5 million
European customers since its launch in 2015, N26 GmbH is part of
the worldwide surge of fintech banks that are challenging
traditional banks with a compelling mobile-first offering that
includes low to no fees, streamlined account set up, and on-demand
access to banking transactions through a modern, mobile interface.
N26 launched its U.S. expansion in August with a traditional
print and outdoor ad campaign that speaks to consumers’ pain points
regarding traditional banking – including ATM fees. In addition to
offering customers two free ATM withdrawals per month at any ATM
nationwide, N26’s agreement with Allpoint Network gives the firm’s
customers unlimited surcharge-free cash access at Allpoint Network
ATMs across the country.
Allpoint Network is Cardtronics’ retail-based surcharge-free ATM
network with 55,000 global locations, including 40,000 in the U.S.,
powering physical cash access for a growing number of fintech firms
and mobile-first banking apps like N26. The easy-to-implement cash
access program provides fintechs with a cost-effective cash
strategy that complements their digital offerings without the need
to build a physical infrastructure of their own.
“Cardtronics, through Allpoint, is helping N26 deliver on its
promise of “mobile banking the world loves” while removing the
physical access barrier that exists for many competing fintech
offerings,” said Brian Bailey, EVP and North America Managing
Director. “Consumers drawn to the high value, digital-centric
offerings of fintech firms still need cash-in-hand, cash that N26
and others are increasingly finding is best provided in partnership
with Cardtronics and the Allpoint Network.”
About N26 N26 GmbH (“N26”) is building the
first mobile banking platform the world loves to use. Founded in
2013 by Valentin Stalf and Maximilian Tayenthal, N26 is focused on
reinventing the banking experience for today’s digital lifestyles.
With its state-of-the-art technology and no branch network, N26
offers customers an easy signup process, and a banking solution
that gives them control over their finances. With 3.5 million
customers in 25 markets, including France, Germany and the UK, N26
is one of the fastest growing challenger banks in Europe, operating
in Europe with a full bank license since 2016. N26 employs more
than 1,500 people in Berlin, Barcelona, Vienna, New York and São
Paulo. It has raised more than $670 million from the world’s most
established investors, including Insight Venture Partners (US), GIC
(Singapore), Tencent (China), Allianz X (Germany), Peter Thiel’s
Valar Ventures (US), and Li Ka-Shing’s Horizons Ventures (Hong
Kong).
N26 operates in the US 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. The N26 Inc.
app is available on Android, iOS and desktop. For more information
about N26, please visit n26.com.
About Cardtronics (Nasdaq: CATM)Cardtronics is
the trusted leader in financial self-service, enabling cash
transactions at approximately 290,000 ATMs across 10 countries in
North America, Europe, Asia-Pacific, and Africa. Leveraging
our unmatched scale, expertise and innovation, top-tier merchants
and businesses of all sizes use our ATM solutions to drive growth,
in-store traffic, and retail transactions. Financial services
providers rely on Cardtronics to deliver superior service at their
own ATMs, on Cardtronics ATMs where they place their brand, and
through Cardtronics' Allpoint Network, the world’s largest
surcharge-free ATM network, with over 55,000 locations. As
champions of cash, Cardtronics converts digital currency into
physical cash, driving payments choice for businesses and consumers
alike.
Contact Information:
Cardtronics Media
RelationsSusannah Moore GriffinCorporate
Communications832-308-4392sgriffin@cardtronics.com |
|
Investor RelationsBrad ConradEVP – Treasurer
832-308-4975 ir@cardtronics.com |
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Cardtronics plc and its subsidiaries
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respective owners.
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