A new alternative to collect
‘Payment at the Touch‘ seeks to reduce entry barriers to credit or debit card charging for smaller businesses. It does not require purchasing or renting an additional device and currently has no fixed monthly costs associated with it.
The proposal is designed as an alternative to the traditional POS and can be especially useful for entrepreneurs who are just starting out; They attend by appointment, participate in fairs or still handle a small volume of operations.
‘What we are looking for with ‘Touch Payment’ is to democratize access to payment by credit or debit card so that it does not necessarily depend on having an additional device, but rather can be within the reach of an entrepreneur who uses his cell phone to manage his day-to-day life,’ says Julio Anaya, Principal Manager of SME Payment Solutions.
The functionality is integrated into the BBVA App and allows Individuals with Business to accept contactless payments with Visa and Mastercard cards, as well as through Apple Pay and Google Pay.
To make a purchase, the customer only has to bring their card or device close to the merchant’s smartphone. Thanks to NFC technology, the cell phone processes the payment without the need for additional equipment. In addition, the buyer can receive the transaction voucher directly to their email.
Funds from sales will be deposited every day, even on holidays, making it easier for businesses to use their income in a limited period.
More processes from the same App
Since ‘Touch Payment’ is integrated directly into the BBVA App, customers do not need to download or manage an additional application to make their payments.
The solution has been recently deployed and, as part of this, we will review how small businesses incorporate this payment method into their activities and continue evolving the proposal based on their experience.
With ‘Touch Payment’, BBVA seeks to bring digital payments closer to entrepreneurs and small businesses, turning the smartphone they already use into a simple alternative to start accepting card payments.
Source: www.bbva.com
