
- Dutch financial institution ABN AMRO has partnered with bicycle rental firm Swapfiets to supply Swapfiet purchasers entry to ID & pay.
- With ID & pay, prospects can enroll and pay for a service in seconds whereas securely storing their ID in a single app.
- ID & pay works throughout a number of retailers and repair suppliers. ABN AMRO likens it to “to having a Google login mixed with PayPal.”
ABN AMRO is flexing its cost innovation muscle this week in a brand new partnership. The Dutch financial institution is teaming up with bicycle-as-a-service firm Swapfiets to launch a brand new performance that mixes cost and id authentication.
Swapfiets is leveraging ABN AMRO’s ID & pay, a device that permits prospects to enroll and pay for his or her Swapfiets membership utilizing an digital ID. When new and present Swapfiets purchasers wish to pay for his or her month-to-month bicycle rental membership, ID & pay permits prospects to enroll and pay in seconds and allows customers to securely retailer their e-ID in a single app.
“ID & pay originated from a necessity we recognized amongst our enterprise purchasers. A necessity to supply their prospects a a lot easier onboarding and cost course of,” mentioned ABN AMRO Chief Technique & Innovation Officer Edwin van Bommel. “This app beats each different onboarding course of available in the market as an easy-to-use manner for purchasers to offer ID and pay for services.”
What’s distinctive about ID & pay is that, as soon as customers enroll initially, they will use their verified id and cost credentials to pay at different retailers and providers that additionally use ID & pay. ABN AMRO likens the performance to having a Google login mixed with PayPal, however with credentials held inside ABN AMRO’s safe, in-app setting.
“We hope this collaboration will make much more individuals passionate about cycle memberships and our underlying concept of proudly owning much less and utilizing extra,” mentioned Swapfiets CEO Marc de Vries.
This isn’t ABN AMRO’s first foray into the subscription administration area. In 2020, the financial institution partnered with Subaio to combine Subaio’s white label subscription administration function into Grip, ABN AMRO’s PFM app that permits customers to see all of their recurring funds in a single place.
ABN AMRO demoed alongside Fincite at FinovateEurope 2019, the place the pair showcased how Fincite’s Automated Recommendation Engine presents purchasers and advisors funding suggestions primarily based on ABN AMRO funding methods.