This card without bank reimbursed more than 600,000 euros in 2018
Bnext exceeds its first 100,000 active clients 70% are men. The majority (61%) is less than 35 years old and 41% lives in Madrid or Barcelona. This fintech works to incorporate two important novelties: Bnext Rewards (to add points to pay with this prepaid Visa) and Bpay, a universal collection system.
Alternatives to traditional banking continue to gain ground, especially among the young and urban public. This is the case of Bnext, a Madrid fintech that issues a free prepaid Visa card that has just surpassed its first 100,000 active customers, according to the data provided by this company.
Bnext, which boasts “not being a bank, but much more”, is an application for iOS and Android with which a prepaid Visa card is controlled. Unlike any bank card, it is not necessary to have an account and offers numerous advantages in its daily use.
To begin with, it’s free. It has no issuance or maintenance costs and is received in a few days without having to pay anything for the shipment either. The first three monthly withdrawals of cash at any ATM have no cost (Bnext reimburses the fees applied by banks) and also reimburses the associated costs for payment in other currencies (for purchases of up to 2,000 euros per month).
Not only that. The Bnext card, which integrates microchip, magnetic stripe and NFC and 3D Secure technologies (for online payments), also gives access to an increasingly complete Marketplace of financial products from which it is possible to apply for a mortgage, investment funds, an account remunerated, a microloan or a health insurance, for example, with advantageous conditions.
Finally, Bnext also reimburses 10% (up to 5 euros per month) of payments made in various services and subscriptions such as Netflix, Spotify, Uber, JustEat, Ticketmaster and many other brands.
Fintech provides a series of data about its user portfolio. He points out that, so far, more than 156,000 people have registered, which means a monthly growth of 48% during 2018.
The average profile of the more than 100,000 people using the Bnext card responds to that of a man (in 70% of cases), young (61% is under 35) and urban (41% reside in Madrid or Barcelona).
During 2018, always according to the figures provided by the company, Bnext managed more than 140 million euros in transactions. 18% was carried out abroad (it is also possible to pay and withdraw money from ATMs without commissions outside of Spain).
On the other hand, Bnext reimbursed more than 600,000 euros in commissions during the past year.
Bnext Rewards and Bpay, the next services
The Bnext card and its application receive improvements constantly. This company advances two of the projects in which it is currently working and will be available soon for all its users.
On the one hand comes Bnext Rewards, a point program that applies to all payments made with the card. Later they will be able to be exchanged in companies with which they already have agreements as it is the case of Netflix, Glovo and JustEat, among others.
And, on the other hand, Bpay is also about to arrive, a universal payment system to be able to collect money from anyone who has a bank card (even if it is not Bnext) and Internet access. The payment is instantaneous and will allow to receive balance at the moment.
Also published on Medium.