Santander Wallet

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Summary: Santander Wallet is a cards-based digital wallet for NFC-contactless purchases on Android phones only. It is operating in Spain only and was launched in Apr 2016. Bizum comes integrated into Santander Wallet, allowing its users to make P2P payments.
Website: https://www.bancosantander.es/es/select/banca-online/banca-online/santander-wallet
Status: Live
Market: Spain (Apr ’16)
Type: Single Bank
Ownership: Banco Santander
Functions: P2P (through Bizum, which comes integrated into the app) and retail payments
Payment Mode: Cards-based
Channel: POS via NFC
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Registration & set up: User must be a Santander customer and have access to online banking as well as having a mobile phone running Android operating system. The app is available on Google Play. Credit, debit, and prepaid cards from Santander bank are supported. Loyalty cards can be added too.

Making a payment: Users have the option to set up a card as preferred. This way, users can make a payment without opening the app. Otherwise, users have to open the app and select a card for each payment. NFC initiated by bringing the phone within an inch of a contactless terminal. Authenticate with PIN. It also supports fingerprint in order to authenticate a transaction. No need to authenticate the transaction for purchases under 20€.
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Merchant perspective: The merchant processes a payment using their existing payments processing systems. (Update to follow – Further information being obtained)
Security: (Update to follow – Further information being obtained) [/otw_shortcode_content_toggle]

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Launch date: Spain (Apr ’16)
Closed Date: n/a
Users: n/a
Retailers / merchants: n/a
Transaction volume: No data yet
Transaction value: No data yet
Other data points: Santander Wallet has still a small market share in the Spanish digital wallet market, around 3.83% only (source: http://www.computerworld.es/negocio/quien-es-quien-en-el-mercado-de-apps-de-pagos-moviles)
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Links:
https://www.xatakandroid.com/aplicaciones-android/santander-wallet-ya-te-permite-pagar-con-tu-movil-excepto-si-tienes-android-marshmallow
http://www.computerworld.es/negocio/quien-es-quien-en-el-mercado-de-apps-de-pagos-moviles
Media:

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