Payment halted: Sparkasse discontinues its payment service, impacting millions of users.
Sparkasse Introduces Wero App as Replacement for Discontinued Kwitt Payment Method
In a move aimed at streamlining mobile banking, Sparkasse has introduced the Wero app as a replacement for the discontinued Kwitt payment method. The Wero app, integrated within the Sparkasse banking app, allows users to send money instantly from one cell phone to another, simplifying person-to-person transfers without delay.
The Kwitt service, which was previously used for fast money transfers between bank customers of Sparkasse and Volksbanken Raiffeisenbanken, has been integrated into Wero. This means that users can now send money directly through the Sparkasse banking app, with transfers being completed in under 10 seconds.
Wero offers additional key features such as secure data transmission, encrypted storage, biometric access protection, and various banking conveniences like account overview, budget planning, card blocking, and securities transactions. The app ensures high security compliant with German online banking regulations, making mobile banking safe and practical.
The sudden discontinuation of the Kwitt payment method may catch many customers off guard, especially since it was a popular method for sending and receiving small amounts up to 30 euros without the need for a TAN. The discontinuation will affect millions of customers, and while the old payment method is now completely discontinued, Wero is promised to be even simpler.
Customers were able to select recipients from their contacts and request or send money without using their IBAN on the Kwitt service. With Wero, even if the recipient didn't use the service, they would receive a link with the corresponding IBAN.
For customers who wish to continue using a similar service, Volksbank currently still offers it. However, it's important to note that Kwitt will still be available at Sparkasse until August 25th, after which it will no longer be available. The discontinuation will occur overnight, leaving customers without a previously convenient method for sending and receiving money.
In summary, the Sparkasse Wero app is the current mobile payment solution that replaces the discontinued Kwitt method by providing fast, secure, and easy peer-to-peer money transfers directly within the Sparkasse banking app ecosystem. The app ensures high security compliant with German online banking regulations, making mobile banking safe and practical.
Other Sparkasse customers can now manage their finance through the Wero app for business, as it provides similar services to the discontinued Kwitt method, such as instant person-to-person transfers and a user-friendly interface. This new app also offers additional features like secure data transmission, encrypted storage, and biometric access protection, making it a handy tool for everyday business transactions.
