Cash is Trash

Cash is Trash

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Cash out – phones in?

As consumers are tethered to their phones, the growth of mobile wallets has really exploded. Banking is becoming (and has already become) more convenient and manageable thanks to mobile phones and the Internet. Mobile phones are always improving and advancing, and the future of the banking industry is growing increasingly digital. Technology is playing a large role in everyday transaction, and the Internet is part of this incredible evolution towards the banks of the future. Both customers and financial institutions needs to adapt to new trends and revolutions. Consumers seems to be quite ready for tap-to-pay..but are companies as well ready to adapt to this massive change? What’s holding people and businesses back from completely embracing mobile payments?

We gathered some realities to keep an eye on and that seems ready for the change:


N26 is a mobile-bank, that few days ago was acknowledged as best Global Innovator Challenger Player, by a jury composed of banking innovation experts. N26 reached 500k users by the end of August, and since January, it reached Italy as well. When you subscribe, it just takes 8 minutes to receive an IBAN, and a couple of days to receive the associated credit card. How did TechCrunch describe it? “NUMBER26 could be the best banking experience in Europe”.

Copyright of N26 GmbH 2017©
Copyright of N26 GmbH 2017©


Traxpay is a pioneer in B2B Fintech. As stated on their website, it is a cloud-based B2B platform that is transforming the way business communicate, interact, and transact across the supply chain. Traxpay is modern and open, creative and driven, uncomplicated and direct. Adding to a growing number of awards, Traxpay received the prestigious FinTech50 Award 2017, and has been featured on FinTech City’s influential FinTech50 list. Among its partners? KPMG, IBM, Nacha.


Payworks is the provider of next generation Point of Sale payment gateway technology, and is empowering commerce globally. Why should we keep an eye on it? First of all, because on August 2017, they announced a partnership with Alipay, China’s leading online and mobile payment service, in order to support it technologically and enable its 520 million users to shop at retailers across Europe. With Payworks as a technology partner, they will both be able to ensure their customers the best payment experience across Europe. Secondly, they won the German Enterprise Award 2017 in June for best POS payment technology. Are they good enough reasons?

Copyright Payworks GmbH © 2017
Copyright Payworks GmbH © 2017



Mambu is a cloud platform which lets you rapidly build, integrate, launch and service any lending portfolio into any market.  FinTechs and banks use Mambu as the engine of their digital-first banking service. Since 2011, they’ve been helping more than 100 financial institutions in nearly 30 countries worldwide. Mambu has also just announced that its innovative solutions is being used by N26 in order to integrate systems and quickly bring services to market in support of its growth strategy.



Solarisbank has one goal: to help finance pioneers build a better financial future, and this happens by providing easy access to banking tech and regulatory air cover. Tech is in the veins of Solarisbank, that has “bank” in the name, but it seems like Technology is their core business. They want to democratize banking innovation for the 21st century, and beyond.

Copyright of solarisBank (instagram)
Copyright of solarisBank (instagram)



We have some Made in Italy company on our list! Satisapay is an app for payments that makes transferring money as effortless as sending a message on WhatsApp. They do not need sensitive information as well because the service does not involve the use of credit cards. Recently they have been doing a partnership with Trenord and Esselunga.. and it seems just the beginning of their revolution.



Payreto is the modern business process sourcing company, which acts free of conflict of interest with partners and clients. Payreto is providing flexible workflow sourcing to financial service providers worldwide, and follows the Pareto principle (80/20 rule) in order to enable their clients to provide non-differentiating front and back office services to their customers with higher quality at lower costs. Since 2012 Payreto serves nearly 100 financial service providers around the globe including i.a. ACI, Catella Bank, Equens, Paymill & Paysafe.



Cash may currently still be king, but it seems destined to disappear. In Europe, Sweden expects to be cashless within the next five year, and Denmark by the end of 2030.
So, what’s holding people and companies back from embracing this new digital type of payments? The most important barrier is security. But it seems millennials are very receptive to the idea of a cashless society, and the 71% of them say it’s very important to have a banking app, and 60% say it’s very important to have an app to make payments.
The smartphone is becoming the foundation of the future of mobile banking, especially among younger customers, who will have authority and power in the financial world of the upcoming decades. We may not be there yet, but the future of mobile payments will be a real game-changer in the next couple of years, and as mobile technology becomes more secure, and user-friendly, their importance to users’ lives will play a more significant role in the future of finance.

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