bunq, an app-based Dutch challenger bank, has teamed up with specialised payment platform Paysafe to facilitate cash deposits for digital banking.
The partnership will allow customers to add cash into their bunq account through Paysafe’s eCash solution Paysafecash.
The international launch of the partnership will be followed by the initial launch in 21 European countries.
Through the bunq mobile app, customers can generate a unique barcode for the transaction, which can be scanned at the point-of-sale terminal for making payments in cash.
Paysafe said Paysafecash is available at around 190,000 payment points in 29 countries.
bunq founder and CEO Ali Niknam said: “bunq was founded to challenge what banking is and can do. By putting our users first we have created a bank that is super focused on making life easy in a sustainable way. Teaming up with Paysafe means bunq users in even more European countries now have a safe and easy way to add cash to their bunq accounts.”
paysafecard CEO Udo Müller said: “The partnership between bunq and Paysafe allows for truly convenient and inclusive banking services. Our well-established eCash network provides a perfect extension to app-based digital banking and allows bunq to reach cash-reliant customers, which represent a considerable and attractive target audience.”
In July this year, bunq raised a total of €193m in a deal with British private equity firm Pollen Street Capital.
The investment round increased the Dutch lender’s valuation to €1.6bn.
It was followed by the acquisition of Irish business specialist lender Capitalflow.