Digital banking satisfies customer demand for mobile payment options.
Starling Bank, an entirely mobile banking app, has integrated with Android Pay. This will allow users to add their Starling card to the Android Pay app, and to pay for goods and services with their mobile.
Users can add their Starling debit card to Android Pay quickly and painlessly, either by taking a picture of it or by entering details manually.
Mobile payment options are much-loved by young users – the core of Starling’s customer base. They allow users to checkout easily in stores, in apps and online without having to carry multiple cards. A number young people, speaking on the Millennial Money Matters podcast, have bemoaned the absence of mobile payment options such as Apple Pay on Monzo and Revolut, two competitors of Starling. Starling became the first fintech bank to allow its customers to use Apple Pay in July.
Card numbers are never stored or sent to merchants when using Android Pay. Instead, a one-time-use virtual account number is used to represent account information.
Starling Bank is one of a growing group of digital banking disruptors which emphasise mobile usage over traditional branch-based banking. The company on-boarded the first of its users in March of this year, and is now fully launched. It is supported by $70m in seed funding from a single investor named Harald McPike.
You can learn more about Starling Bank by tuning into episode 7 of Millennial Money Matters.