20 October 2017

ING pulls plug on P2P payments app Twyp

29 November 2016  |  8009 views  |  1 ING Payconiq

ING is to discontinue its P2P mobile payments app Twyp in the Netherlands after it failed to gain traction with customers.

Twyp CEO, Mohamed de Booij said the decision to ditch the service in the Netherlands was made following feedback from Dutch users that a separate app for these kinds of payments that wasn’t linked to a customer's Iban account number had insufficient added value.

Introduced this year, Twyp will continue to operate in Spain where it currently counts more than 300,000 users.

“The Spanish market for mobile banking is different from the Dutch. Mobile banking apps in Spain have less functionality than Dutch apps,” says de Booij.

Dutch users will have any money in their Twyp moved into their bank account on 24 November. Twyp accounts will officially close on 15 December and be blocked from that point on.

Twyp users will be encouraged instead to adopt ING's mobile banking app, which was recently extended to include person-to-person payments.

Says de Booij“The ING Mobile Banking App is well appreciated by customers and there are constantly new features added to the app such as the recent payment request where customers of ING and other Dutch banks can pay via WhatsApp, SMS and email.”

Comments: (1)

Hitesh Thakkar
Hitesh Thakkar - FIS Payments Software and Services India - India | 29 November, 2016, 13:51

Point solutions will loose out to fully furnished offerings.

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