Gigs reposted this
🚨 𝗡𝗲𝘄𝘀 𝗙𝗹𝗮𝘀𝗵: Nubank Launches Travel eSIM with Gigs Let's dive in: As I shared last month (https://bit.ly/4bXX6V1 ) Nubank is making its foray into the mobile network sector with the introduction of an eSIM (embedded SIM) service designed for travelers. This new offering allows Nubank customers to access 10GB of free roaming internet across more than 40 countries, without needing to swap out their existing physical SIM card or eSIM. The launch follows recent news that Brazil’s National Telecommunications Agency (ANATEL) had discreetly approved Nubank’s plans to become a mobile virtual network operator (MVNO) in collaboration with provider Claro. Targeted at Nubank Ultravioleta customers—a premium subscription service introduced three years ago with perks like insurance, higher credit limits, cashback, and family accounts—the new eSIM service expands Nubank's offerings. Nubank recently announced its entry into the travel sector with the upcoming launch of a “global account” in partnership with European fintech Wise, which will enable Ultravioleta subscribers to make low-fee international money transfers. This eSIM service, part of the travel sector initiative, provides 10GB of data for travelers in the U.S., Latin America, and Europe. Users can activate the eSIM via the Nubank app, leveraging infrastructure powered by Gigs. Gigs provides a platform that streamlines the creation of mobile network services through a single API, similar to how Stripe simplifies financial transactions for businesses. “Bundling mobile plans represents a powerful lever for neobanks to turn irregular users into monthly paying subscribers, encourage upgrades to premium features, and create an ecosystem where banking acts as a hub for multiple value-added services,” Gigs co-founder and CEO Hermann Frank told TechCrunch. Calling itself an MVNO could invite extra regulatory oversight. Although banks are already tightly regulated as financial institutions, being classed as a telecommunications company would likely usher in further regulatory obligations. While Nubank is indeed preparing to launch an MVNO service in its domestic Brazil, its travel eSIM service is more straight forward to bring to market due to its partnership with Gigs, as that partner assumes all the regulatory compliance complexities that come with the territory. E-SIM is a growing trend in FinTech. In February, Revolut launched a similar eSIM service for premium subscribers: https://bit.ly/3yzUmyC And last year, Indian neobank Zolve also added mobile networks to its arsenal of services so immigrants can not only have their banking set up before arriving in the U.S., but have a mobile service ready to go on arrival too. Also, in Brazil Nubank would not be the first financial entity to launch its own mobile operator. Banco Inter owns Inter Cel and sells mobile plans to account holders using Vivo's coverage. Is E-SIM going to be a feature of every banking app soon?
Julian A.
1mo
Wow, Nubank! Love to see you innovating, but as we say in my country: 'Shoemaker, stick to your last.' 🤔 Admirable initiative, but I hope you don't lose focus on what you do best. Quality above all! It’s worth remembering that service quality has been a point of discussion before, so as a Nubank customer, I hope not to go through that again. For now, I look forward to using the eSIM on my next trip and having an excellent experience. Thanks Marcel van Oost for sharing this. It’s always gratifying to read your posts!
Bart-Jan Pors
1mo
Thanks for sharing, Marcel van Oost. Revolut set the tone a little while ago, as you also point out. The support for use cases like #roaming and #remittances / #internationaltransfers are great diversification opportunities for banks like Nubank and Revolut, as they are clear distinguishers for a customer base that is internationally minded!
Zamil A. Safwan
1mo
This is a game-changer for travelers, offering seamless connectivity in over 40 countries. It’s exciting to see such innovation in fintech. Looking forward to seeing if eSIMs become standard in banking apps globally.
Mehmet Karakus
1mo
First Revolut and now Nubank. Is N26 or Monzo Bank next?
Douglas Rocha
1mo
Luiz Arthur Ventura Roger Nery Ivan Bassi Vitor Pompei
Martijn Bos
1mo
CEO @ Validus Vietnam | Fintech | Digital lending | Banking | Entrepreneur I Fulbright fellow
1moVery smart offering, indeed.