DiPocket, GPS Launch Financial App in Poland
DiPocket, a U.K.-based fintech company heads east to Poland with the launch of its DiP mobile financial app, which the company says will provide an alternative to expensive traditional bank accounts or complement consumers’ current banking services.
Poland’s banking sector is heavily regulated and often comes with higher fees for basic banking services, according to Fedele Di Maggio, CEO of DiPocket. He says DiP, which enables payments and money transfers, currency exchange, bill pay, joint payments and other features, will benefit users because of the mobile app’s ease of use and security. Customers’ funds are kept with Bank Pekao S.A. Payments processor Global Processing Services (GPS) provides the physical and virtual accounts for the app.
“DiPocket is utilizing many aspects of the [GPS] platform in new ways” says Suresh Vaghjiani, GPS managing director, card services. “Not only has DiPocket built a product that showcases the capabilities of the GPS platform but their services show why banks should be fearful for how these challengers will be able to compete with them toe to toe.”