NumberX, an Austrian fintech firm launched by former Revolut and Anyline managers, are preparing to launch an app-based Mastercard powered by open banking.

With NumberX, users can connect all their current accounts to the app, set a monthly spending limit and use the NumberX Mastercard to make cashless payments worldwide without hidden costs, to withdraw cash free of charge as well as benefit from other services without switching to a neobank.

The business model is enabled by a new flat-rate concept. The first partners are the global payment network Mastercard, the financial technology company PPS and industry-related investors.

For the implementation, the company takes advantage of the regulations of the European Union, specifically the Single European Payments Area (SEPA) and the Second EU Payment Services Directive (PSD2).

The fintech was launched by Claudio Wilhelmer, previously Country Manager DACH of London-based neobank Revolut, and Matthias Seiderer, previously Chief Revenue Officer of Vienna-based AI technology company Anyline.

“Traditional banks hardly offer any modern solutions for the digital lifestyle of a young generation, especially in the card sector.

 

The price-performance ratio is simply not right. We are putting an end to this and are reshuffling the cards with NumberX! We will soon be launching our app-based Mastercard,”

said Claudio Wilhelmer, Co-Founder and Co-Managing Director of NumberX.

“The banking world has problems responding to the needs of customers and their desire for financial freedom. We are the easy-to understand link between the old banking world and new financial technologies – that’s what NumberX stands for.

 

The current accounts of the users remain with their bank, where the trust is high. We are building on this foundation and see ourselves as an independent financial platform that connects existing current accounts with innovative financial technologies via a single card.”

added Matthias Seiderer, Co-Founder and Co-Managing Director of NumberX.