BBVA Wallet

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Summary: BBVA wallet is a cards-based digital wallet for NFC-contactless purchases on Android phones only. BBVA wallet is operating in Spain only and was launched in Dec ’13
Website: https://www.bbva.es/general/apps/bbva-wallet.jsp
Status: Live
Market: Spain (Dec ’13)
Ownership: BBVA
Functions: Retail payments only
Payment Mode: cards-based
Channel: POS via NFC
Roadmap: n/a [/otw_shortcode_content_toggle]

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Registration & set up: User must be a BBVA customer and have access to online banking. The app is available for Android and iOS. User must have an mobile phone running Android 4.4. or higher. Otherwise, user can order an additional NFC-enabled sticker (for iOS phones and Android lower than 4.4). Payment cards are added automatically by BBVA within the app

Making a payment: NFC payment initiated by bringing the Android phone within a inch to the contactless terminal. Authenticate with PIN code (although users can deactivate it for purchases under 20 €). Users receive a notification on their mobile phone.[/otw_shortcode_content_toggle]

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Merchant perspective: The merchant processes a payment using their existing payments processing systems. BBVA Wallet simply facilitates the payment by securely passing payment credentials to the merchant
Security: (Update to follow – Further information being obtained)
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Strategy: BBVA does not charge consumers and merchants for the use of its digital wallet. BBVA business model is to offer an innovative and good service to its customers in order to gain its loyalty
Payee fee: No charge for merchants
Payer fee: No charge for consumers [/otw_shortcode_content_toggle]

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Launch date: Dec (Sep ’13)
Closed Date: N/A
Users: Over 700,000 (source: https://www.xatakamovil.com/n/las-diferencias-entre-usar-bbva-wallet-y-los-sistemas-de-pago-por-smartphone)
Retailers / merchants: No data yet
Transaction volume: No data yet
Transaction value: No data yet
Other data points: BBVA wallet is the second most downloaded mobile payment app in Spain, just behind PayPal (http://www.abc.es/tecnologia/moviles/aplicaciones/abci-bbva-wallet-pagos-moviles-mas-extendida-espana-201607281605_noticia.html) [/otw_shortcode_content_toggle]

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Links:
http://www.abc.es/tecnologia/moviles/aplicaciones/abci-bbva-wallet-pagos-moviles-mas-extendida-espana-201607281605_noticia.html
https://www.xatakamovil.com/n/las-diferencias-entre-usar-bbva-wallet-y-los-sistemas-de-pago-por-smartphone
Media:

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