Banking major ING has launched Twyp, a peer-to-peer-payment app, in the Netherlands following its successful launch in Spain recently.
Twyp, an abbreviation of The Way You Pay, allows users to transfer money instantly to contacts on their mobile devices.
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After downloading the app, users need to create a Twype account and deposit money over iDeal or a credit card. Money transfers can be done via a chat function and a personal code confirmation.
The app, which is available free for iOS and Android devices, is available for both ING customers and non-ING customers.
ING Netherlands director of daily banking Heidi van Eijk said: "ING continues to look for ways to make payments more simple and easier. For example, Twyp is a simple solution to the problem of paying back a friend after a night out. You don’t need long bank account numbers to exchange money.
"With Twyp, you just go to your contact list. On the basis of just a telephone number, you can then transfer money. Your smartphone is all you need."
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