What's your biggest mistake as DM

"Barzahlen" will soon be available in dm drogerie markt branches

From August 21st of this year there will be new cash services in the 391 dm drogerie markt branches in Austria. Thanks to a cooperation with FinTech “Barzahlen”, customers will be able to pay online bills in cash from August and withdraw cash at the cash desk. "Through the cooperation with Barzahlen, our branches are becoming even more an anchor point in the daily life of our customers", says the managing director Andreas Haidinger, responsible for the finance and controlling department. “A lot of people don't feel comfortable revealing their bank details to online retailers. The additional service now enables online purchases and invoices to be paid in the familiar and secure environment of our stores. In addition, everyday things such as withdrawing cash from the current account can be done, ”Haidinger continues.

+++ Viennese startup Finnest in the final of the world's largest FinTech competition +++

Barzahl: "Sources of error are completely eliminated"

Payments into current accounts at participating banks will also be possible. This is only possible in a few bank branches or at a few ATMs. By cooperating with Barzahl, banks can expand their network of service points even further. Achim Bönsch, founder of Barzahlen, explains the target group: “Consumers no longer need online banking or credit cards to shop online at participating shops such as Parfumdreams, Dagi Shop and Goodgames. Customer numbers or IBANs no longer have to be typed in when paying invoices. The most common sources of error are thus completely eliminated. "

Cash as the Austrians' favorite means of payment

If customers want to make a transfer, they need a barcode from the invoicing company, which they receive by email, SMS or post. For cash withdrawals, customers can create this themselves in the bank app. At the cash desk in the dm branch, the barcode is scanned and finally the outstanding amount is collected or paid out. The customers then receive a confirmation of the transaction in real time. In view of the fact that Austrians prefer to pay with cash, the potential of this solution could be great. According to a study by the Austrian National Bank, Austrians make 82 percent of all transactions in this country with cash. In addition, cash transactions make up almost two thirds of the total payment volume.

About cash payments
Barzahl provides an infrastructure for online transfers as well as deposits and withdrawals in retail. Customers in the branches of dm drogerie markt will soon be able to use these to pay for their online purchases and bills in cash or to withdraw money from their current account and pay into it. Barzahl has been active in Germany since 2013 and offers its services in around 12,000 partner branches. The partners include REWE, PENNY, real, -, dm-drogerie markt and Rossmann. Barzahl also cooperates with large energy suppliers such as E.ON, shops such as Rakuten.de and banks such as the DKB. Cash Payment Solutions GmbH, based in Berlin, is behind Barzahlen. It was founded in 2011 and is managed by Achim Bönsch, Sebastian Seifert and Andreas Veller.

(PA / red)


⇒ To the FinTech page