Marc Terry, Managing Director International at Cardtronics

Spain-based fintech company Cardtronics, an ATM operator announced a partnership with Pecunpay, the e-money institution, that will make physical cash more accessible for digital-banking customers in Spain.

The partnership will open Cardtronics’ ATM network across Spain to Pecunpay’s 300,000 card-users, giving them easier access to cash. The partnership showcases a growing trend among fintechs and digital banks in Europe, which are increasingly having to adapt to consumer demands, to make use of existing physical infrastructures and offer much-needed access to cash.

Marc Terry, Managing Director International at Cardtronics, said, “Across Europe, consumer demand for convenient access to cash remains strong. Even digital challenger banks are now realising that they have to provide access to cash and Pecunpay is getting ahead of the market by providing convenient ATM withdrawals through our network of ATMs in Spain. The established high-street banks are continuing to progress a strategy of branch and ATM closures which makes Cardtronics the obvious choice to deliver convenient access to cash.”

Antonio García, CEO of Pecunpay, commenting on the collaboration, “Pecunpay is an innovator within the industry, and constantly adapting to meet client demands. We understand the need among our clients and card-holders for easier and cheaper access to cash. Our partnership will draw on Cardtronics’ extensive ATM network across Spain to meet these needs in a cost-efficient and effective way. We fully expect partnerships of this nature to become commonplace as more fintechs will look to follow our lead and innovate to provide a wider range of services.”

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by Megha Bhattacharya
Market Analyst at IBS Intelligence
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