Spanish supermarket chain Bonpreu is to roll out a mobile payments service to 170 stores, using a platform developed by Dinube that combines proprietary tokenization algorithms, NFC and biometric fingerprint security.
Dinube charges merchants a flat fee for purchases over €10 (US$11.19) while lower-value transactions are processed free of charge. The platform also “instantly stores full receipts and loyalty card information in the cloud”, Dinube says. “Users can retrieve all their purchasing data simply by logging into the network.”
The company’s technology has been built into the payment gateway operated by Informática El Corte Inglés, the IT services arm of department store chain El Corte Inglés, as well as Ingenico NFC PIN pads.
“For the moment, Dinube is a prepaid solution,” the startup told NFC World, “with Sepa direct debit, transfer and soon instant top-up. Direct-sync with bank accounts is on its way in the near future.”
“In 2009, we created a unique digital token which, when generated, represents a certain value,” Dinube CEO Jonathan Hayes explained. “That token is exchanged via NFC or even a QR code and is presented at the point of sale. The user then receives a push notification request on a smartphone, prompting confirmation of the payable amount. Shoppers instantly obtain a full, itemized receipt inside the Dinube app.
“Most large retailers are already upgrading to contactless NFC PIN pads, so Dinube helps lower the total cost of ownership by offering a payment network with the same user experience as existing legacy networks, but with many more features and a much lower cost.”
“We also monetize the solution through the digital receipts and the loyalty integration,” Hayes added. “So far, Dinube is integrated with Ingenico contactless PIN pads via an SDK we provide to the merchant’s payment gateway. Dinube also provides APIs to connect with the retailer’s POS software, so we are fully embedded with industry-leading solutions by NCR and others.”
“Dinube is PSD2 (European Payment Services Directive II) ready, which provides new rules on access to payment accounts,” Hayes continued. “Until that comes into force, users can use Sepa direct debits, bank transfers or instant top-up functions to add funds to their account.
“Dinube allows consumers to remain in incognito mode, just like when paying in cash,” Hayes added. A dashboard “to be released soon” will also enable account holders to monitor who has access to their data and how it is being used.