A plethora of banking, accounting, and finance apps have made money management, organisation, and orchestration easier, simpler, and faster than could be imagined just a decade ago. But these products generally exist in isolation, meaning consumers have to use a gallery of apps to really benefit from the latest advances in fintech.

wamo.io brings all these benefits together under one roof. From the app, you can do just about anything you need to do with money without logging out.

The app allows users to access all regular bank accounts, set up payments and split bills, pay using contactless or QR in the currency of choice and send money to family and friends instantly.

Unbanked individuals using the wamo app for personal money management can use their wamo account to make and take payments, no bank account needed.

One feature of note is that account holders can manage a family or team’s finances from the app too – from issuing cards to setting budgets and sending payments with currency options.

The company says that its mission is to make managing and organising finances effortless, for all.

wamo is not a bank, with the current account operating as an e-money account. Issuance of Electronic Money and payment services are provided by PayrNet Limitet, which holds an amount equivalent to the money in the wamo current accounts in a safeguarding account which gives the customers protection against insolvency.

Features of wamo.io

wamo for individuals

• Easy to set up, with accounts and virtual cards ready to go in minutes.
• All the benefits of the best challenger banks: make instant, recurring, and future payments; 24/7 SEPA and Faster Payments; currency options.
• Family-friendly features: issue and manage both virtual and physical cards for family members, oversee usage, create limits and make and take payments between accounts – wamo removes so much of the hassle and cost of managing family finances.
• Unbanked individuals can use their wamo account to make and take payments, no bank account is needed.

wamo for businesses

• In most countries in the world, opening a business bank account is a time-consuming, hurdle-jumping hassle. With wamo, setup takes minutes.
• Offers the same benefits of the best challenger banks with the same advantages as for individuals.
• wamo comes into its own for teams: account owners can issue and load cards for team members (and themselves) and manage them from the app; set budgets and view expenditures per project.
• Account owners can track and categorise spending and manage receipts uploaded by the team.
• By integrating a preferred accounting app (like Sage Business Cloud or Xero), or by using wamo Reports, wamo becomes an accounting platform providing expenses and transaction analyses at set intervals or on-demand.

wamo.io says it will soon be introducing card-to-card payments in over 130 countries using contactless QR codes.

“We like to think of wamo as ‘egoless tech’ – using smart technology to bring together the best of what’s available today, providing an experience that is designed to make money easy and optimised, for everyone.

“wamo.io is our first consumer product and we have a big vision for it. Our mission is to fundamentally transform how value is exchanged, effortlessly for everyone. We’re focusing on developing a ‘new generation experience’ for both individuals and businesses to meet the paradigm shift in behaviour we see happening around how people finance assets and relate to contactless payments.

"We believe we’ll be delivering tremendous value for our customers with this product. wamo is launching now in Malta and we aim to expand across Europe initially. While we launch our MVP, we’re also looking forward to closing a bridge round of financing in the coming months. It’s exciting.” Yanki Onen, co-founder and CEO at wamo.io

"We are not another challenger bank, but as a technology company, we do challenge the status quo. At wamo.io our motto is “Because… why not?” – and that’s not to be flippant! We are a growing team of (currently) 30 talented, passionate team players - we’re looking forward to changing things.” Eren Dursun, co-founder and CTO at wamo.io