Articles Published 04.05.2017Back
Source: ING Luxembourg
ING is joining the DIGICASH family with the launch of its ING DIGICASH app in Luxembourg.
This innovative app will enable the bank's customers to check their account balance using the latest technology developed by the DIGICASH Labs and can be activated using a LuxTrust token.
This means that before making a payment using the DIGICASH app, ING Luxembourg customers can check the balance of the accounts they linked to the app beforehand. This unique function, which is not offered by any other point-of-sale payment method, helps customers to better manage their money and to make sure they have the funds they need to make a payment. The app is the result of different channels and banking services coming together to make the customer experience better and more transparent.
The second new function introduced by the ING DIGICASH app involves an easier subscription process: in fact, the app can now be activated simply by using a LuxTrust token. There's no need to connect to "My ING": once you have downloaded ING DIGICASH, simply log in to the app using your token and validate your phone number; you can then start using the app straight away.
Thanks to the LuxTrust function, the app offers the highest level of security, whilst also being as user-friendly as possible. Customers can further set their own use restrictions and create their own PIN code. They can also increase the security of their transactions by enabling fingerprint recognition for each operation.
The DIGICASH app will help improve the everyday lives of Luxembourg's consumers by facilitating digital transactions of all kinds, be it person-to-person and point-of-sale payments, bill payments, or e-commerce and in-app payments. Moreover, DIGICASH applications have won over the general public: they have been downloaded more than 130,000 times. With the launch of ING DIGICASH, the product will now be available for over 90% of primary account holders in Luxembourg. What’s more, a study carried out by TNS ILRES in January 2017 found that 84% of Luxembourg residents were aware of the DIGICASH brand, while 70% said they were familiar with the product.
ING Luxembourg customers can now download the ING DIGICASH app for free from the App Store and Google Play.
Frédéric Kieffer, Head of Retail Banking at ING Luxembourg, said: "Our decision to make the ING DIGICASH app available to our customers fits perfectly with ING Luxembourg's strategy in the areas of innovation and mobile payment. We are aiming to accelerate digitisation, whilst keeping our customers at the heart of this transformation. The teams at Digicash Payments and ING Luxembourg have worked together very effectively to create the product, illustrating our capacity to innovate in close collaboration with a local FinTech firm. The new app is also an essential component of retail banks' strategic positioning in preparation for the entry into force of the Second EU Payment Services Directive in 2018."
Raoul Mulheims, CEO of Digicash Payments, added: "The DIGICASH product is the fruit of a unique collaboration and a trailblazing international scheme now involving five retail banks and the team from our start-up. We are delighted to have been able to forge this partnership with ING Luxembourg and to jointly launch the new balance check and LuxTrust activation features. I am extremely proud of the work carried out by all the teams who have worked on this project, both at ING and within our own company. DIGICASH continues to prove that FinTech partnerships are well and truly a reality today and that Luxembourg's retail banking sector is one of the most innovative in Europe."
Lastly, Mr Kieffer and Mr Mulheims agreed that they were "very happy to be able to offer ING customers a cardless payment solution like ING DIGICASH, which is truly innovative, easy to use, 100% secure and completely free!"
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