Contis partners with Pin4 to boost easy cash withdrawal in the UK and Europe
By Megha Bhattacharya
Contis, a Banking-as-a-Service and payment solutions provider, has teamed up with FinTech Pin4 in a bid to enable account holders to access cash via their mobile phones which they can instantly collect at any enabled ATM, including any of 12,000 Cardtronics ATMs across the UK, without the need for a card or pre-registration.
The collaboration will see Contis assume the role of a clearing and settlement partner for Pin4 in the UK and Europe. For Contis’ community banking division, Engage, the partnership will deliver access to cash and emergency payments.
Stephen Hart, Executive Vice President of Europe for Pin4 said, “Pin4 are excited to launch this partnership with Contis and to be a part of their ongoing innovation in payments and financial services across Europe. Convenient access to cash is an essential service for many individuals seeking financial freedom and control and this partnership will instantly and conveniently deliver that accessibility for clients and partners of Contis.”
Contis stated that its clients will now be able to withdraw funds from their accounts, access funds for a lost or stolen card, receive emergency payment and send instant cash support to friends and family. Contis’ 250+ clients will have the option of including Pin4 functionality to deliver cash services to their end-customers through the Contis platform.
Peter Cox, Executive Chairman and Founder of Contis, said, “Contis is always looking to satisfy all the payments needs for its B2B clients’ go-to market offering. Emergency cash is a core requirement given that cash can often be the only truly flexible answer for certain needs. In forging this new partnership with Pin4, we’re providing our partners, and Pin4’s partners across the EEA, with ways of delivering the required funds in real-time. Be that emergency cash, airline delay payments at airports, distribution of loans, urgent insurance payouts or simply solving the issues of a lost or mislaid card at home or abroad. The user experience is simple and the service is instantly available, 365 days a year.”
Recently, Contis collaborated with Mastercard as a principal issuing member. The partnership enables Contis to deliver an end-to-end Banking-as-a-Service (BaaS) platform including direct access to global payments networks. The FinTech also stated that it has added key functionality to the platform including open banking, international currency conversion, cardless cash delivery and request to pay capabilities which, when linked to its UK and SEPA payment accounts, delivers an end-to-end BaaS solution.
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