Mobile banking service Pocopay has launched in the Netherlands, Spain and its home country of Estonia to let consumers split bills, request money using email addresses or QR codes and make payments via a MasterCard contactless debit card.
Pocopay allows customers to open and run a bank account from their mobile phone. “Why go all the way to the bank when you can just use your mobile phone to set up and manage your account?” asks the company.
“With Pocopay, you can tap and swipe to make transactions happen, you can split your bills, you can request money using email and simple QR codes,” Pocopay says. Customers can also attach photos to money requests as a reminder for the recipient.
“Transactions between Pocopay users take no time at all. So, if you are using Pocopay in Spain today, you can send money to a Pocopay user in the Netherlands or Estonia in an instant. There are no transaction costs, and indeed the only cost is a monthly fee of €2.90 [US$3.20] that is the same for all users, no matter how much you use us.”
“Pocopay is a real banking account and, with one tap, you can order our MasterCard contactless debit card to pay worldwide or online,” the company adds.
“We are bankers who believe that people don’t necessarily need banks but people still need banking,” Pocopay CEO Indrek Neivelt writes in a blog post. “We are also designers and engineers who believe that there is no excuse for complicating everyday things with an outdated design.”