Mobile payments

BBVA’s Turkish unit is launching another pioneering solution, the Bonus Platinum Biometric Card, allowing users to make payments in a secure manner by simply scanning their fingerprint.  The innovative new card will be available shortly.

In less than a year, BBVA has issued one million Aqua cards in Spain. This groundbreaking system, which eliminates data from the plastic and uses dynamic CVV, is expanding rapidly in Latin American subsidiaries. Mexico, Peru and Colombia already have the first features.

The telecommunications company Orange has become the first operator in Spain to incorporate Bizum into its means of payment. BBVA was the institution that provided the contractual and technological framework to make this possible. As of this week, all Orange customers of the Orange, Jazztel and Amena brands, regardless of their banks, will be able to carry out certain transactions with this payment method that´s faster than a card and that complies with PSD2 requirements.

BBVA has launched a service in Spain that allows customers to instantaneously and securely pay for lottery tickets and bets and collect winnings using their mobile phone. By going to the bank's app, customers can use Bizum to generate a QR code that allows them to pay or collect money at 11,000 Loterías y Apuestas del Estado retailers. This is the first time that people have been able to pay in physical stores using Bizum and a QR code.

Mobile payments in Europe, QR codes in Latin America, and super apps in Asia: These are some of the trends that are getting the most traction across the globe in the digital payments arena. We review those initiatives that are making the biggest impact in each region.

Stores, restaurants and hotel chains in Spain are offering tourists from other countries the possibility of paying with their smartphones. Payments with QR codes allow companies to streamline the process and boost sales. Platforms like WeChat Pay and Alipay are central to the shopping experience of tourists from China, one of the most profitable for the country.

BBVA and Dufry have launched the first WeChat Pay facilities in Spain, in the travel retail operator’s World Duty Free stores at the Adolfo Suarez Madrid-Barajas airport, in a dedicated bid to make Chinese tourists feel more welcome while on tour.

BBVA Group has developed a platform to facilitate mobile payments across all the countries in its footprint. The platform developed by BBVA connects to Visa and Mastercard directly from each country's application and provides the data required to process digital transactions from a smartphone.

This new payment method replaces sensitive debit or credit card data with a unique identification code called a ‘token,’ which is used during a digital transaction. Online transactions are therefore more secure because the customer’s actual card data no longer needs to be provided. BBVA has already committed to helping its customers adopt this new payment approach.

Garanti continues to bring innovative solutions to the Turkish banking sector with SWIFT GPI, a new standard that provides significant improvements to the handling of international payments. Foreign currency transactions made to both domestic and foreign banks via Garanti Bank can now be easily tracked with SWIFT’s ‘Tracking Report’ feature, which has been integrated into Garanti Online Banking.

The branch of artificial intelligence that focuses on teaching machines how to see is becoming increasingly sophisticated. It is already better than humans at telling one person from another. At BBVA’s headquarters, this technology is already being used to allow users to pay for their meals at Ciudad BBVA’s restaurants. But, how does it work?

The holidays can be stressful for those who have a large number of names on their gift list. Not much time remains for those in the full swing of their shopping spree. As the pressure mounts to finish, any little bit helps.

The way of the future is a cashless society, but it's not just around the corner. For several years innovators and political leaders have sought to promote a cashless society. It's a long journey, and there is still a ways to go.

Peer-to-peer payments, or P2P, have become a popular way of quickly and easily paying family and friends using a mobile device or home computer.

BBVA Compass has launched a series of new commercials in the Birmingham market highlighting the newest functionalities features of the BBVA Compass Mobile Banking App.

Mobile banking in 2018 contains a vast amount of components and resources, from real-time personal loans, starting your own account, and money transfers to other easy functions that fit perfectly with today’s on-the-go lifestyle.

There are plenty of ways to move money these days – from paying bills to receiving payments to paying friends – and most of them are digital.

BBVA, today brings its customers Apple Pay, which is transforming mobile payments with an easy, secure and private way to pay that’s fast and convenient.

BBVA Compass recently reported a 30 percent increase year-over-year in mobile active customers.*

According to a recent study from Citigroup, it’s a trend the bank should expect to see continue, as customers increasingly use mobile banking apps over most others. BBVA Compass Head of Business Development Pepe Olalla agrees but also says increased adoption of the mobile app among BBVA Compass customers can also be attributed to a digital strategy which incorporates design and customer feedback to deliver a solution that guides customers on their financial journey.

BBVA’s push into the invisible payments market has taken another step forward with the deployment of a facial recognition payment system.

They were born with the dawn of this century, and many of them are the children of the first millennials. Generation Z is now beginning to impact payments, imposing their specific preferences.

Moviegoers can remember a time when they’d watch a sci-fi, spy or crime picture in the theaters, complete with a scene that shows a main character gaining access to a top-secret area with finger print identification. We’re looking at you, Ocean’s Eleven.

P2P, or peer-to-peer transactions, have become a popular way to complete small transactions – whether you’re paying a friend back for buying your movie ticket, or chipping in for a co-worker’s birthday cake. If you’re looking to protect yourself, that’s all they should be used for: small transactions.

BBVA is developing payment methods based on biometric technologies to make checkout at stores ‘invisible’. It is already being used in cafeterias and restaurants at Ciudad BBVA. More than 1,000 employees already use an app to automate payments and testing has begun on a biometric facial recognition system based on technology from the startup Veridas, a JV of BBVA and Das-Nano in 2017.

BBVA’s drive towards delivering a world class digital banking experience has taken another step forward. Over the past year the bank has seen an almost twofold year on year increase in the number of products and services its customers and clients are taking-up via digital channels.

BBVA develops the infrastructure to allow El Corte Inglés to process Alipay mobile payments by Chinese tourists. Alipay is one of the most popular payment platforms in China.

BBVA’s core focus on delivering innovative, customer and client focused products and services continued to accelerate during 2017.

Reports are claiming that Samsung’s newest phone is “almost finished”; with some outlets reporting that the first folding phone from the company was shown at CES in Las Vegas – in a secret fashion, of course.

The European Commission has published regulatory technical standards (RTS) that are part of the Payment Services Directive, or PSD2. The standards ensure greater security when paying for goods and services in Europe, as well as for third party access to bank customers’ data.

One of the biggest financial stories of 2018 will be the entry into force of the European Union’s Payment Services Directive 2 (PSD2). For customers, the measure will mean faster, simpler and more secure digital payments. And for banks and the fintech ecosystem, it presents a great opportunity.