Santander Launches New Payments App Geared Toward Millennials

Santander UK is entering the competitive mobile payments space with a new app called KiTTi.

The platform is designed to facilitate and organize group transactions (up to 100 participants per collective pot). Basic account management features such as viewing, monitoring, and logging are also available through the dashboard.

Individuals must be over the age of 18 with an active UK debit card to use the new service. The app, which was developed through a partnership with Kalixa Payments Group and Monitise, is available for both iOS and Android devices.

“The idea behind Santander’s KiTTi app, which is completely unique in the UK, is to make it much easier for groups of people to pay for virtually anything, and with just one single KiTTi prepaid card,” said Sam Nixon, head of KiTTi at Santander.

To get started, an owner is required to register and setup an account. Once approved, he or she will receive a KiTTi prepaid contactless MasterCard. Invitations are then sent to individuals via text messages. Account holders have the option to customize pools by adding a name, target amount, and personal milestones.

Initiating a contribution requires participants to enter their debit card information into the app. Then, payments will incur a small transaction fee. Each account has a threshold of $6,200. In addition, the KiTTi prepaid card can be used for local and overseas transactions.

“We’ve all been through the hassle at the end of a fantastic meal with friends when it comes to splitting the bill,” highlighted Nixon. “You get a pile of notes, coins and cards in the middle of the table and then have to divvy up the change-and you know at least one of your friends is secretly annoyed because they feel they’ve paid more than they should.”

Santander seeks to troubleshoot this frequent occurrence, and many others just like it with the KiTTi prepaid card.