Kesh

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Summary: Kesh is an account to account digital wallet for online and in-store (via QR code) purchases as well as P2P payments on mobile devices. Kesh is operating in Germany only and was launched in Apr 2013. Kesh has been developed by biw AG and XCOM AG.
Website: https://www.kesh.de/
Status: Live
Market: Germany (Apr ’13)
Type: Other
Ownership: Kesh was developed by biw AG and the technology provider XCOM AG. Both companies are subsidiaries of FinTech Group AG.
Functions: Retail and P2P payments
Payment Mode: Account to account
Channel: POS via QR code, WEB
Roadmap: n/a [/otw_shortcode_content_toggle]

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Registration & set up: Kesh app is available for any mobile device (smartphone or tablet) which supports Android (5.0 or higher) or iOS (2.2 or higher). Registration can be done through the app or the website. App is available on Google Play and App Store. A link is sent to verify the e-mail address. A SMS is sent to verify the phone number. A bank account must be linked to the app

Making a payment: User enters the amount and scans the QR-code from the merchant terminal. After clicking on “Pay” the merchant gets the money in real time. Alternatively, user can select the merchant from his contact list. Authenticate with PIN code [/otw_shortcode_content_toggle]

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Merchant perspective: (Update to follow – Further information being obtained)
Security: The app can only be used by logging on with user ID and PIN. The systems are operated in the secure data centre of XCOM AG in Dusseldorf, where the systems of biw AG and many other banks are operated. The app and the server are protected by secure certificates, which prevent access to the app by third parties [/otw_shortcode_content_toggle]

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Strategy: (Update to follow – Further information being obtained)
Payee fee: (Update to follow – Further information being obtained)
Payer fee: (Update to follow – Further information being obtained) [/otw_shortcode_content_toggle]

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Launch date: Germany (Abr ’13)
Closed Date: N/A
Users: No data yet
Retailers / merchants: No data yet
Transaction volume: No data yet
Transaction value: € 1 million in Nov 2015 (source: http://www.fintechgroup.com/fileadmin/fintech/content/pdfs/2015/news/en/pm_151116_kesh_brakes_1_million_in_transfers.pdf)
Other data points: Users transfer an average of € 10 (source: http://www.fintechgroup.com/fileadmin/fintech/content/pdfs/2015/news/en/pm_151116_kesh_brakes_1_million_in_transfers.pdf) [/otw_shortcode_content_toggle]

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Links:
https://www.biw-bank.de/en/mass-market/104/kesh http://www.fintechgroup.com/fileadmin/fintech/content/pdfs/2015/news/en/pm_151116_kesh_brakes_1_million_in_transfers.pdf
Media:

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