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Verse is an application for mobile payments between individuals, one of the alternatives that competes with Bizum, but with the advantage of having a license at a European level, which does not restrict it only to Spanish banks.
With Verse it is possible to send money to our friends and acquaintances, in fact it is designed for small daily transactions: pay for our share of a dinner, put money for a birthday present, pay for the movie tickets they bought for us….
The app itself allows you to split bills or open groups with different objectives (roommates, shared Netflix, group trips…). In addition, Verse makes it possible to create a "jackpot" for a specific event, so that members advance the money.
The money from Verse will be sent from a conventional debit or credit card, and the balance we receive can be sent to a bank account, all without commissions and instantly.
When we explained what Bizum is, we saw that it is controlled by Spanish banks, leaving aside important entities such as ING Direct. In the case of Verse we can send money to users in a large part of Europe, specifically to banks in the following countries:
Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, the Netherlands, Poland, Portugal, Slovakia, Sweden and the United Kingdom.
Therefore, Verse allows trading in pounds, Danish kroner, Swedish kroner, and Polish zlotys, in addition to the euro.
Verse Card to pay with the balance
Although the basic Verse app is an alternative to Bizum, by adding the bank card it approaches "fintechs" like Revolut, Bnext or N26, technological finance companies that replace banks.
The Verse Card is a Visa that allows to pay with the Verse balance in online or physical stores, and up to2 free withdrawals per month at ATMs . In addition, it offers an advantageous exchange rate, so Verse recommends it for travel.
Verse is a Spanish payment platform, based in Barcelona, seeking to move away from traditional banks. Everything is managed from its mobile app, available for Android and iOS.
More and more technology companies are entering the financial sector, including the eye-catching credit card Apple Card, and now with Verse another alternative to send money to our friends arises, regardless of whether they live in Spain or in other European countries.
What do you think of Verse? Are you interested in an application similar to Bizum, but compatible with banks in various European countries?