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HOUSTON, Oct. 23, 2019 (GLOBE NEWSWIRE) -- N26 Inc., the US subsidiary of German mobile bank N26 GmbH, has chosen Cardtronics’ Allpoint Network and its 40,000 U.S.-based surcharge-free ATMs to power its cash access strategy for its recent expansion into the United States. Boasting 3.5 million European customers since its launch in 2015, N26 GmbH is part of the worldwide surge of fintech banks that are challenging traditional banks with a compelling mobile-first offering that includes low to no fees, streamlined account set up, and on-demand access to banking transactions through a modern, mobile interface.
N26 launched its U.S. expansion in August with a traditional print and outdoor ad campaign that speaks to consumers’ pain points regarding traditional banking – including ATM fees. In addition to offering customers two free ATM withdrawals per month at any ATM nationwide, N26’s agreement with Allpoint Network gives the firm’s customers unlimited surcharge-free cash access at Allpoint Network ATMs across the country.
Allpoint Network is Cardtronics’ retail-based surcharge-free ATM network with 55,000 global locations, including 40,000 in the U.S., powering physical cash access for a growing number of fintech firms and mobile-first banking apps like N26. The easy-to-implement cash access program provides fintechs with a cost-effective cash strategy that complements their digital offerings without the need to build a physical infrastructure of their own.
“Cardtronics, through Allpoint, is helping N26 deliver on its promise of “mobile banking the world loves” while removing the physical access barrier that exists for many competing fintech offerings,” said Brian Bailey, EVP and North America Managing Director. “Consumers drawn to the high value, digital-centric offerings of fintech firms still need cash-in-hand, cash that N26 and others are increasingly finding is best provided in partnership with Cardtronics and the Allpoint Network.”
N26 GmbH (“N26”) is building the first mobile banking platform the world loves to use. Founded in 2013 by Valentin Stalf and Maximilian Tayenthal, N26 is focused on reinventing the banking experience for today’s digital lifestyles. With its state-of-the-art technology and no branch network, N26 offers customers an easy signup process, and a banking solution that gives them control over their finances. With 3.5 million customers in 25 markets, including France, Germany and the UK, N26 is one of the fastest growing challenger banks in Europe, operating in Europe with a full bank license since 2016. N26 employs more than 1,500 people in Berlin, Barcelona, Vienna, New York and São Paulo. It has raised more than $670 million from the world’s most established investors, including Insight Venture Partners (US), GIC (Singapore), Tencent (China), Allianz X (Germany), Peter Thiel’s Valar Ventures (US), and Li Ka-Shing’s Horizons Ventures (Hong Kong).
N26 operates in the US via its wholly owned subsidiary, N26 Inc., based in New York. Banking services in the US are offered by N26 Inc. in partnership with Axos® Bank, Member FDIC. The N26 Inc. app is available on Android, iOS and desktop. For more information about N26, please visit n26.com.
About Cardtronics (Nasdaq: CATM)
Cardtronics is the trusted leader in financial self-service, enabling cash transactions at approximately 290,000 ATMs across 10 countries in North America, Europe, Asia-Pacific, and Africa. Leveraging our unmatched scale, expertise and innovation, top-tier merchants and businesses of all sizes use our ATM solutions to drive growth, in-store traffic, and retail transactions. Financial services providers rely on Cardtronics to deliver superior service at their own ATMs, on Cardtronics ATMs where they place their brand, and through Cardtronics' Allpoint Network, the world’s largest surcharge-free ATM network, with over 55,000 locations. As champions of cash, Cardtronics converts digital currency into physical cash, driving payments choice for businesses and consumers alike.
Susannah Moore Griffin
EVP – Treasurer
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