„Send and receive money, instantly, for free, between 28 European countries. All you need is the Settle app and the phone number of the recipient. Starting today, no cross border fees!” – writes Daniel Döderlein, the CEO of Settle Group, in a linkedin post.
He added: „Money you receive to your phone number can be kept safe as e-money or paid out to your bank account for free. If you want to exchange money, because you want the recipient to get their local currency, or you would like to spend some currency you already have, no problem, Settle does live and market updated exchange without hidden fees.„
Users of the Settle app can pull money from supported cards, bank accounts, a line of credit, or a free prepaid wallet account, called the ‘Settle Account’. The money received can either be safely kept in the multi-currency Settle Account or it can be paid out for free to the user’s bank account.
The Settle app also enables users to exchange funds to and from any supported currency without any hidden fees. This feature allows users to pay with Settle while traveling abroad within the EU or when buying products online from foreign merchants, on top of already supported national ones.
„Settle app becomes the first pan-European mobile payments app to interconnect all European Union countries (plus Norway) in a single, collaborative payment network.” – according to a press release. After making its services available in Denmark, Romania, and Sweden at the end of 2021, Settle is now enabling Czechia, Hungary, and Poland, together with cross-border payments across its entire footprint.
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Headquarters in Norway, Settle is the result of 10-years worth of fintech and mobile payments history. The team behind Settle have been making a name for themselves as leaders in mobile payment and commerce since 2010. They developed the first mobile payments platform in the Nordics and launched the first mobile payments scheme in Norway (mCASH). This experience and technology is now being applied by Settle Group to establish the largest collaborative mobile payment network across Europe.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
