Zimpler - Best Payment Method
Founded in Stockholm and Gothenburg in 2012, Zimpler is a Swedish financial technology company that deals with mobile money solutions. It is a platform where you get to link your card and bank account to your mobile phone and transact using it. Whether you are in the comfort of your home or wherever you may be, you can deposit or withdraw via your phone number, making it safe and convenient to access your funds.
This fintech company's main goal is to simplify mobile payments, giving users control over their spending habits. They take pride in using behavioural sciences, spending limits, and nudging to understand the needs of their customers more. At the time of writing, Zimpler mentioned in their website that you can set a spending budget monthly by emailing their customer support, which you can lower or increase anytime. At the moment, their wallet can only be used in Finland and Sweden. They did mention, however, that they have plans to expand in other European markets.
How it Works?
Setting an account with Zimpler is very simple. From the site you wish to make a transaction on, say a mobile casino for example, you only have to choose Zimpler as your mode of payment. Unlike other modes of payment, you do not need to create an account in Zimpler by yourself. You only have to input your mobile phone number, then you will receive a verification code through SMS to ascertain whether you are the original owner of the account.
After getting verified, you are good to go. For you to deposit money or to pay your balance in your Zimpler account, there are two options available - you can either pay using credit card or your phone bill. In order to withdraw using Zimpler, you have to initiate withdrawal from the website you wish to get your money from. Choose Zimpler and enter your mobile phone number and the code you receive. You then select the bank and enter your account details. The money transfer takes from 15 minutes to one day.
Benefits with this Method
- The transactions are fast and instant.
- Account details are encrypted to ensure maximum security.
- You can have responsible spending by setting up a budget.
Disadvantages with this Method
- Currently available only in Sweden and Finland.
- You must have existing accounts loaded with money for you to transact with Zimpler.
- Continuous verification needed.
Review and Summary
Zimpler gives you an opportunity to manage different accounts from a central point - your mobile phone number. You are not required to remember the password since you will get a code each time you try to transact with it, no account registrations needed. Your Zimpler account is automatically created on the first time you use it as a mode of payment. It is also easy to deposit (or pay) and withdraw using Zimpler.
You only have to enter the code and your account details on the website you wish to transact on. You can also manage your spending since you can put a limit on your budget. However, Zimpler has some drawbacks. Most people are not comfortable with the need to continuously verify their account. Another major drawback with Zimpler is that it is limited to only a few countries, thus, limiting a larger customer base outside the countries it is currently available on. Even with this, we can conclude that Zimpler has lived to the expectations of many - using Zimpler is simple and effortless.