N26 has introduced MoneyBeam to its UK users which will enable them to instantly send money to other users of the mobile bank.
The feature allows users to transfer money to someone’s bank account using just their mobile phone number or email address.
This follows recent research by N26 which found that 27% of UK adults regularly paid a bill in full just to avoid an argument with regard to splitting the tab.
Will Sorby, UK general manager at N26 (pictured above), said: “Hardly anyone carries cash any more and sometimes you just really need to ping someone £5 for your lunchtime sandwich, or pay your share of the monthly bills.
“We want to make that process as easy and simple as possible.
“With MoneyBeam, our users can bypass the admin and cut straight to their contacts to send money and split bills via the N26 app.”
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