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![\"Vivid](\"https:\/\/techcrunch.com\/wp-content\/uploads\/2020\/06\/Vivid-Money.jpg?w=730&crop=1\")
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Meet Vivid<\/a>, a new challenger bank launching in Germany that promises low fees and an integrated cashback program. The two co-founders, Alexander Emeshev and Artem Yamanov, previously worked as executives for Russian bank Tinkoff Bank.<\/p>\n Vivid doesn’t try to reinvent the wheel and is building its product on top of well-established players. It relies on solarisBank<\/a> for the banking infrastructure, a German company with a banking license that provides banking services as APIs to other fintech companies. As for debit cards, Vivid is working with Visa.<\/p>\n If you live in Germany and want to sign up to Vivid, you can expect a lot of features that you can find in other challenger banks, such as N26<\/a>, but with a few additional features. Vivid users get a current account and a debit card. They can then manage their money from the mobile app.<\/p>\n The physical Vivid card doesn’t feature any identifiable details — there’s no card number, expiry date or CVV. Just like Apple’s credit card in the U.S., you have to check the mobile app to see those details. Every time you make a purchase, you receive a notification. You can lock and unlock your card from the app. The card works in Google Pay but not yet in Apple Pay.<\/p>\n In order to make money management easier, Vivid lets you create pockets. Those are sub-accounts presented in a grid view, like on Lydia<\/a> or N26 Spaces. You can move money between pockets by swiping your finger from one pocket to another. Each pocket has its own IBAN.<\/p>\n You can associate your card with any pocket. Soon, you’ll also be able to share a pocket with another Vivid user. Like on Revolut<\/a>, you can exchange money to another currency. The company adds a small markup fee<\/a> but doesn’t share more details.<\/p>\n As for the cashback feature, the startup focuses on a handful of partnerships. You can earn 5% on purchases at REWE, Lieferando, BoFrost, Eismann, HelloFresh and Too Good To Go, and 10% on online subscriptions, such as Netflix, Prime Video, Disney+ and Nintendo Switch Online. While it’s generous, you’re limited to €20 maximum in cash back per month.<\/p>\n Interestingly, Vivid also wants to bring back Foursquare-style mayorship. If you often go to the same bar or café and you spend more than any other Vivid user over a two-week window, you become the mayor and receive 10% cashback.<\/p>\n Vivid has two plans — a free plan and a Vivid Prime subscription for €9.90 per month. Prime users receive a metal card, more cash back on everyday purchases and higher withdrawal limits.<\/p>\n The company plans to launch stock and ETF trading in the coming months. Vivid also plans to expand into other European countries this year.<\/p>\n Vivid is entering a crowded market, but already offers a solid product if everything works as expected. It’s going to be interesting to see how the product evolves and if they can attract a large user base.<\/p>\n Tags:<\/b> Romain Dillet<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" <\/div>\nSee Campaign: <\/strong>https:\/\/vivid.money\/en-eu\/<\/a>
Contact Information:<\/b>
Romain Dillet<\/p>\n
<\/a>, Wire<\/a>, United States<\/a>, English<\/a><\/p>\n<\/div>\n
\nContact Information:<\/h3>\n
Meet Vivid, a new challenger bank launching in Germany that promises low fees and an integrated cashback program. The two co-founders, Alexander Emeshev and Artem Yamanov, previously worked as executives for Russian bank Tinkoff Bank. Vivid doesn’t try to reinvent the wheel and is building its product on top of well-established players. It relies on solarisBank for the … Continue reading Vivid is a new challenger bank built on top of solarisBank<\/span><\/a> Continue Reading