CaixaBank broadens its mobile payment service range with the launch of ‘CaixaBank Pay’, a new app for any NFC-enabled or android devices. The bank, headed by Isidro Fainé as chairman and Gonzalo Gortázar as CEO, estimates that the service could be used by more than 70% of its mobile banking customers.
With the new payment app, customers can download their CaixaBank Visa cards to their mobile phones and use the phone like a contactless card for purchases at any retail outlooks with an adapted POS terminal. Over 70% of stores in Spain now operate with this technology, implying more than 600,000 POS terminals. The app can also be used at contactless ATMs.
The new app is based on HCE (Host Card Emulation) technology, which allows for secure downloading of financial cards. This way, CaixaBank Pay makes it easy for any customer with a CaixaBank Visa card and Android phone to make payments, irrespective of their telecommunications operator. The only technical requirements are to have an Android 4.4 or higher operating system and NFC capability.