[otw_shortcode_content_toggle title=”Overview” opened=”closed”]
- Summary: TWYP is a cards-based digital wallet for P2P payments on mobile phones operating in Spain only and was launched in Dec 2015. TWYP has been developed by ING bank. TWYP operated in the Netherlands from Jan 2016 to December 2016.
- Website: https://www.twyp.com/en/
- Status: Live in Spain; Shut Down in the Netherlands
- Market: Spain (Dec ’15), The Netherlands (Jan ’16, Dec ’16)
- Type: Single Bank
- Ownership: ING bank
- Functions: P2P payments only
- Payment Mode: Cards-based
- Channel: SMS
- Roadmap: n/a [/otw_shortcode_content_toggle]
[otw_shortcode_content_toggle title=”User Experience” opened=”closed”]
- Registration & set up: App can be downloaded from Google Play and App Store. User’s smartphone must support iOS (8 or higher) or Android (4.1 or higher). User needs to have a Spanish mobile number. The app just works with Internet connection. User need to add a card to top up his account. Any VISA or any MasterCard issued in Spain are supported
- Making a payment: Open the app and tap “+” symbol. User selects the person he wants to pay from his contact list. Tap the “coins” symbol and follow the instructions. Authenticate with personal code [/otw_shortcode_content_toggle]
[otw_shortcode_content_toggle title=”Payment Flows & Technology” opened=”closed”]
- Merchant perspective: App is not available for merchants
- Security: TWYP uses the highly secure payments systems of ING. Authentication with PIN code (Update to follow – Further information being obtained)
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[otw_shortcode_content_toggle title=”Business Model” opened=”closed”]
- Strategy: (Update to follow – Further information being obtained)
- Payee fee: App is not available for merchants
- Payer fee: No charge for consumer [/otw_shortcode_content_toggle]
[otw_shortcode_content_toggle title=”Performance Data” opened=”closed”]
- Launch date: Spain (Dec ’15)
- Closed Date: The Netherlands only (Dec ’16)
- Users: Over 300,000 (source: https://www.finextra.com/newsarticle/29830/ing-pulls-plug-on-p2p-payments-app-twyp)
- Retailers / merchants: No data yet
- Transaction volume: No data yet
- Transaction value: No data yet
- Other data points: No data yet [/otw_shortcode_content_toggle]
[otw_shortcode_content_toggle title=”Links & Media” opened=”closed”]
- Links:
https://www.ingdirect.es/twyp/
http://mejorcuentabancaria.blogspot.co.uk/p/twyp.html?view=mosaic - Media:
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[otw_shortcode_content_toggle title=”Contact (MobeyForum Members only)” opened=”closed”]
- Name: N/A
- Address: N/A
- Email: N/A
- Phone: N/A[/otw_shortcode_content_toggle]
https://www.finextra.com/newsarticle/29830/ing-pulls-plug-on-p2p-payments-app-twyp