BBVA, in collaboration with Visa, Nokia and Ingenico, anticipate Spain being a hot spot for NFC action. They have started the first commercial initiative in Madrid for contactless payments using a phone through Near Field Communication. There was recently a news report done on the rollout, which can be found right here. Although it is in Spanish, you can actually see NFC in action, something that one day may not be a rarity.
The press release from BBVA has been roughly translated below by AltaVista Babel Fish Translator.
BBVA Announces the First Means Experience of Payment Without Contact Through Moving Bodies Nfc in Spain
“BBVA, in collaboration with Visa, Nokia and Ingenico, becomes to anticipate to the market being sent the first commercial initiative in Spain of payments without contact through the movable telephone by means of technology NFC”
- is the first initiative in Spain in which technology NFC (to near field communications) leaves the “fairs” and the forums to approach real surroundings of payments without contact through the moving body
- Being integrated the terminal of Nokia with means of payments of BBVA and the application of Visa, movable telephone NFC becomes a financial card of payments without contact thus, with capacities of display of information and communications, which provides greater information and advantages for the clients.
BBVA, following their Strategic Plan of Innovation in New Means of Payment, anticipates to the market approaching for the first time in Spain a commercial initiative of payments without contact through moving body supported on technology NFC (Near Field Communication). This technology allows to personalize a movable telephone with a financial card of the client, so that payments of small amount in commerce qualified to the so single effect with approximating the movable telephone to the terminal point of sale can be carried out. In its initial phase, this initiative will count on a significant number of employees of BBVA that will be able to pay through their movable telephone the purchases that make in certain commerce of the surroundings of the District of Salamanca in Madrid.
BBVA will facilitate to these users the new Nokia 6131 NFC, movable telephone of last generation and design, that besides to provide the most advanced services of communication, emphasizes being one of the first telephones that commercially have the technology NFC (to near field communications), technology that allows among other services to make payments, simply approximating the moving body to a terminal of payment qualified to the effect. The movable telephone of Nokia will be customized with the data of the financial card Visa of the client emitted by BBVA, being able to use it of totally safe form in all those commerce integrated in this initiative.
In this initiative, the application of payments without contact for moving bodies NFC sent recently by Visa and its later personalización with the financial data of the card of the client, is stored in the internal memory of the movable telephone Nokia in a protected area and encriptada to the effect, so that the data of the card are perfectly safe and a transaction does not begin unless the client specifically authorizes it on his telephone.
In order to make the payment in the commerce, it will be enough with approximating the movable telephone to the readers without terminal contact connected to the point of sale. In this initiative the terminal point of sale Ingenico I5100 with a reader without contact Saturn 6000 with transaction viewfinder will be used, that enormously facilitates the experience of the client and the commerce in the payment.
The means of payment without contact appear as a comfortable alternative to the use of the cash in the purchases of small amount in surroundings of fast services, as it is the case of the sector of hosteleria, public transport, stores of convenience, etc. Between his advantages it is the diminution of tails in the point of sale, the diminution of the cash management, the security and mainly the extremely intuitive ease of use. The movable telephone, by its penetration and ergonomics, is an excellent support to lodge means of payment without contact by its capacities of display and communication.
Although the movable telephones to date have been commercially controlled by the movable operators and means of payment by the financial industry, in the future this type of services that go much more there of the communication will be able to mainly give rise to sinergias between the sector of the bank and the telecommunications which they will benefit so much to the financial organizations as to the movable operators, but to the final clients who use a combined technology of high added value.
BBVA Something new every day… ahead.