UK Fintech OMG Launches P2P Funds, Goals to Supply Digital Banking that can Present Financial Advantages for On a regular basis Spending

UK-based Fintech agency OMG formally launched its platform on June 10, 2020.

The corporate famous by way of Twitter:

“We’re a Fintech startup seeking to present our prospects with day-to-day present accounts that can give on the spot cashback reductions for as much as 50% of the acquisition worth.”

OMG says its companies will likely be supported by 1000’s of retailers throughout the UK.

The London-based agency famous that it efficiently raised seed spherical funding final yr, which helped with growing its merchandise and to arrange for beta testing.

The corporate claims:

“OMG will not be a contemporary financial institution. It’s significantly better.”

OMG accounts include a fee card, UK account and kind code, help for banking transfers, and P2P funds.

OMG lets customers earn cashback reductions at on-line and offline retailers throughout the UK.

The OMG staff acknowledged:

“We’re on a mission to construct a digital banking product that can present you, our prospects, important financial advantages in your typical day-to-day spending.”

The corporate added:

“We [aim] to simplify the method of receiving on the spot cashback.”

Customers want solely full transactions utilizing their OMG card to get cashback incentives, the Fintech agency stated. After funds are processed, the corporate routinely pays the cashback low cost on to customers’ accounts.

OMG famous:

“We need to create an account that gives prospects actual advantages day by day and isn’t just a cash administration software.”

In line with OMG’s analysis, a mean person may save as much as £1000 in cashback per yr through the use of their service.

The corporate stated that it will likely be providing accounts to 20,000 London-based customers, who will likely be eligible to obtain on the spot cashback choices of “as much as 50% in over 700 associate service provider areas” the corporate has within the metropolis.