Nickel announces its launch on the Spanish market
Distributed in France through the tobacconist network, Nickel is launching its first stage of deployment within the euro zone. The neobank aims to operate in 7 European countries by 2024. Spain is next in line.
A simple payment service accessible from any tobacconist
Nickel's banking offering is the result of a partnership between Financière des paiements électroniques (FPE) and the Confédération des buralistes français (CBF). The idea: to market a bank account with no barrier to entry, simple to use and with an optimized user experience. More precisely, the startup is proposing three offers: a simple Classique package open to all at 20 euros a year, including an account, a card and a RIB; a Premium package at 30 euros a year, which includes the same services, a card in the subscriber's name and a design to choose from among 4 colors, no additional charges on transactions carried out abroad, and insurance; a Jeune package at 20 euros a year, including a MasterCard and an account with no risk of overrunning.
Nickel's strategy seems to be working, since it now has 1.6 million customers and 5,600 tobacconists as partners. The neobank is adding around 150 new tobacconists every month as part of its strategy to diversify its territory.
Like other market players, Nickel experienced a fairly radical crisis linked to the effect of containment. However, since the end of this period of interruption, the startup has seen strong momentum, and even achieved a record day three days after deconfinement. This "account for all" craze can also be explained by the recovery of C-Zam accounts. Last May, Nickel proposed a special offer to holders of these accounts: reimbursement of the annual fee of 20 euros for the first year for all account openings.
Deployment in 7 European countries by 2024
The BNP Paribas subsidiary, which unlike most neobanks focuses more on the banking relationship than on digital products, has decided to accelerate its international development by setting up operations in 7 euro zone countries by 2024. Next on the list is Spain. On the Spanish market, Nickel will rely on the network of national lottery stores to market its offering. "By 2021, Nickel services will be distributed throughout the country, including the Canary Islands," the startup states in a release. It adds that this launch is being financed by its own resources, without calling on its shareholders via a fund-raising operation.
Nickel has set itself the target of reaching 700,000 open accounts and 3,000 points of sale in Spain within 4 years.