Inbank announces the launch of Inpay, a new generation payment app and card. With this, Inbank enters the credit card market in Estonia.
According to Jan Andresoo, Chairman of the Management Board at Inbank, nothing innovative has been done in the Estonian cards market for the last ten years and there is room for a new and significantly better product. ‘Because bank cards are mainly used for everyday purchases, we saw an opportunity to fill this niche with a competitive offer. Inpay is the most rewarding and convenient payment solution for everyday shopping,’ said Andresoo.
Adding that innovation does not necessarily mean reinventing the wheel, it can also mean simplifying something and creating a better user experience. ‘Today, it is clear that a wallet-free life is the new norm. That’s why we started designing Inpay by creating a mobile app first, and the card is more like an accessory these days,’ said Andresoo. Inpay users can make unlimited contactless payments with Apple Pay, which can also be used on all Apple devices.
Moreover, Inpay is the first credit card in Estonia to give cashback from purchases. Together with the new payment solution, Inbank is also the first bank in Estonia to launch a 14-gram metal credit card with contactless functionality.
To use Inpay, you need to download the app and create an account, which only takes a few minutes. The virtual card can be used immediately, the Mastercard credit card will be sent to your home address by post within 10 days. Inpay can be used by customers of all banks; there is no need to change your home bank.
Inbank is a consumer finance focused digital bank active in the Baltics and Poland with additional deposits accepted in Germany, Austria and the Netherlands. Inbank has over 3,200 active partners and 650,000 active contracts. Inbank bonds are listed on the Nasdaq Baltic Stock Exchange.