CaixaBank launches app that turns phones into POS devices
By Gloria Methri
Spain’s CaixaBank has built a new contactless app that lets merchants accept card payments, view account history, generate receipts, and handle refunds, without the need for additional devices.
The Smartphone TPV app turns Android handsets into POS (point of sale) devices, is compatible with Visa and Mastercard, and manages them with the same security as a traditional terminal. Users can make card payments anywhere by email or by QR code.
This solution enables the bank to help improve the shopping experience for customers, benefiting businesses that need mobility and flexibility in payment.
Merchants who want to convert their phone into a payment terminal can download the Smartphone TPV app on their mobile phone, which is available on the Google Play Store. The app is compatible with all Android devices, be they phones or tablets, if they have version 8 or higher of the operating system and NFC.
Upon signing up for the service as a CaixaBank customer, the merchant will receive the login credentials to start using it. When making a sale, the amount of the transaction must be entered on the main screen and then the customer must hold their card up to the phone with the app installed.
If required by the transaction, the application asks for the PIN. After confirming the purchase, the option to generate a receipt will appear and it can be sent to the customer by one of three methods. That is by, displaying it on the screen, sending it by email, or generating a QR code. The CaixaBank application also lets you manage refunds.
The launch of the new service will further strengthen CaixaBank’s retail services, a sector in which the bank, through Comercia Global Payments, has upwards of 645,000 POS terminals and a market share of 31.2%. Customers are catered to through CaixaBank Negocios, the division that develops products and services adapted to suit their specific needs.
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