Viafintech's service is similar to the cashback known in Poland. Except that a payment card is not required to make a cash withdrawal
Viafintech is a German company, founded in 2011. It currently operates in several markets, including Greece, Switzerland, Austria and Italy. Now it is beginning to build its structures also in Poland and soon it is going to introduce its service under the name viacash to the local market.
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Viacash is a service reminiscent of cashback, well known to many readers, which allows you to withdraw cash from a shop's till when paying for purchases. However, it requires the use of a card issued by a bank offering such transactions. In addition, the ability to withdraw cash is limited to chains of shops that offer this service. Viacash works in a similar way, except that it does not require a card and the transaction is initiated using a barcode generated by an app on your smartphone. This is usually an app from a bank that has partnered with Viafintech.
For now viacash deposits and withdrawals cannot yet be used in Poland. However, the company, which has just become a member of the Polish Organisation of Cash Handling Companies, is already holding talks with potential partners. In Poland there are networks with which Viafintech cooperates in other markets, such as Rossmann. Banking partners include institutions that already serve customers from Poland, such as the German challenger bank N26.
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As far as the advantages of the viacash service compared to the popular cashback are concerned, it is certainly the possibility to initiate transactions via a mobile application. This makes it possible to offer many additional services. Viacash in the markets in which it operates also allows for cash deposits, bill payments or cash payments for purchases made previously in the e-commerce sector.