Mobile payments are the best example of how technology can add value to traditional banking services, says CaixaBank Payments’ head of mobile — and benefits will come not only in the form of increased revenues but also in the form of improved customer satisfaction, reputation and loyalty.
To be ready for anything and to always be listening to users and their needs are some of the lessons CaixaBank learned in bringing its host card emulation (HCE) based mobile payments service to market, Matteo Fermi tells readers in an in-depth paper now available to download from the NFC World Knowledge Centre.
‘Adding value to traditional banking services — Why Spain’s CaixaBank believes the answer lies with mobile payments’ details the approach the bank took in choosing HCE technology and how it set out with the aim of designing a “Swiss army knife for payments” while focusing its efforts on retaining the sense of innovation without losing contact with the customer.
“We designed CaixaBank Pay with the scope of adding valuable features and giving the user power to manage all the new payments options coming into the market, with all the financial services they need,” he says. “The lesson we can share is to be ready for everything and always listen to users and their needs — mobile payments are here to last and, in the near future, can change our life.”
Readers can download Fermi’s eight-page paper, which provides a wealth of insight into the payments market in Spain and the bank’s challenges in building an HCE mobile payment service, free of charge from the NFC World Knowledge Centre.
• This document is part of What’s New in Payments, a 104-page special report from NFC World that explores and explains the latest payment trends and technologies. You can download the entire report here.