Wirecard is expanding its collaboration with ReiseBank, the market leader in the field of travel money in Germany. The partners launched the mobile banking app, bankomo, on the market just last year. Now, they are enabling users to top up their smartphone account with cash at retail businesses, without a minimum purchase requirement, according to a press release.

Wirecard and ReiseBank said the account can be opened and managed within just a few minutes via video authentication using the app (iOS and Android) or online at www.bankomo.de. It is linked to a prepaid MasterCard, which enables money to be transferred to other bankomo customers (peer-to-peer) within seconds and also supports traditional banking services, such as SEPA transfers and direct debits as well as standing orders.

Furthermore, cash can be withdrawn at any of the 300 ReiseBank cashpoints across Germany. 

"Thanks to our expanded partnership, ReiseBank can offer its customers increased value-added immediately," Julian Weste, vice president of fintech and financial institution at Wirecard, said in the release. "State-of-the-art banking solutions such as bankomo show how international apps can be expanded with useful value-added services."