Dutch banking group ING is set to discontinue its Twyp mobile payments app in the Netherlands after it failed to gain traction with customers.

The app, launched by the Dutch lender earlier this year, allows users to pay small amounts to contacts through their mobile devices.

The app was discontinued after Dutch users said that a separate app for these kinds of payments that was not linked to the customer account (IBAN) had little added value. The app will however, be retained in Spain where it has over 300,000 users.

Twyp CEO Mohamed de Booij said: “The Spanish market for mobile banking is different from the Dutch. Mobile banking apps in Spain have less functionality than Dutch apps.”

Twyp accounts will close on 15 December, and money in users’ Twyp accounts will be moved into their bank account on 24 November.

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By GlobalData