Telefonica Germany has launched a mobile banking app in cooperation with Fidor Bank AG, which provides white-label technology for such services.

The O2 Banking app is now available as a free download for Android and iOS and comes with a debit MasterCard, according to a press release.

"O2 Banking is setting the standard for the mobile bank account of the future as well as the manner in which people manage their finances in the digital age," said Markus Haas, COO at Telefónica Germany. "This is not only thanks to our concept of 'Megabytes not meagre interest'. We also offer unique features, optimal usability as well as full transparency of services and fees. It is our claim as leading digital communication provider is to meet our customers with fairness and at eye-level. This way only are we able to ideally support them in their digital lifestyles."

Depending on their usage of the O2 Banking account and MasterCard, customers obtain a bronze, silver or gold status. This also implies an extra data volume of 100 MB, 300 MB or 500 MB per month for O2 customers. Until the end of the year, the additional data bonus amounts to 500 MB for the silver status and 1 GB for the gold status, according to the release.