Contis, a European banking-as-a service provider, has partnered with Pin4, to offer accountholders with access to cardless cash across the UK and Europe.
The alliance enables users to access cash using their mobile phones, which can be collected at any enabled ATM without a card or pre-registration.
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Contis users can also deliver money to beneficiaries, family and friends through a text message, using Pin4 Cash solution.
The solution is said to be particularly useful for the users of Contis’ community banking division Engage, which engages with the Credit Union movement.
It can help them address the challenges of limited opening hours and movement restrictions amid the Covid-19 crisis, noted Contis.
The tie-up is said to facilitate the banking services provider’s clients and Engage Credit Union partners by enabling their customers to send a withdrawal request to their mobile phone, through SMS.
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By GlobalDataUsers can withdraw funds from their account and collect cash at a nearby ATM. They can also access funds for an account whose card is lost or stolen, while waiting for a replacement.
Besides, the users can secure emergency payment and withdraw cash instantly and also instantly send cash to their friends and family.
Pin4 Europe executive vice president Stephen Hart said: “Pin4 are excited to launch this partnership with Contis and to be a part of their ongoing innovation in payments and financial services across Europe.
“Convenient access to cash is an essential service for many individuals seeking financial freedom and control and this partnership will instantly and conveniently deliver that accessibility for clients and partners of Contis.”
The two fintechs have started working on their integration. Upon completion, Contis’ client base of over 250 can opt to incorporate the Pin4 functionality.
Contis executive chairman and founder Peter Cox said: “Contis is always looking to satisfy all the payments needs for its B2B clients’ go to market offering. Emergency cash is a core requirement given that cash can often be the only truly flexible answer for certain needs.”
Recently, Contis collaborated with Mastercard as a principal issuing member.
