Telefonica Deutschland switches banking partner - Mobile World Live

Telefonica Deutschland switches banking partner

28 MAY 2020

Telefonica Deutschland signed-up German financial services company Comdirect to take over as its mobile banking partner, with plans to expand the scope of its offer to include the addition of cash transfer through chat channels.

The operator launched its O2 Banking App alongside online challenger brand Fidor Bank in 2016, providing a range of payment services tied into to data offers. However, since then its partner has experienced a turbulent period with founder CEO Matthias Kroner leaving the company last year and the bank quitting the UK market.

In a statement, Telefonica Deutschland said the new partnership would enable it to “comprehensively modernise” its mobile banking service.

O2 Banking’s existing base will have to open a new account and download the refreshed app. Each user is being offered an incentive of €25 and 50GB of data to stick with the brand in its new incarnation and sign-up by the end of the month.

The new app will provide standard banking services, contactless payments using either Apple or Google Pay and a range of mobile peer-to-peer payment options including transfers using chat and social channels.

In Q3 the operator also plans to launch a bonus scheme for users.

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Chris Donkin

Chris joined the Mobile World Live team in November 2016 having previously worked at a number of UK media outlets including Trinity Mirror, The Press Association and UK telecoms publication Mobile News. After spending 10 years in journalism, he moved...

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