The mobile payments they continue growing in Spain and they already assume around 20% of all payments of the largest Spanish companies, who believe that “Whoever tries it will never return” to payment with physical card.
This is what he has done Jorge Otamendi, director of Getnet Europe Business Development (Santander Bank), in a briefing presented by the professional services company EY and Europe Press.
The partner responsible for the strategy and transactions of financial entities of EY Spain, David Frias; the general director of Consumption and Payment Methods of Abanca, Jorge Martínez; the director of the consumer and means of payment sector Bankinter, Ana Garrido; or the Head of Payments for BBVA Spain, Roberto Pagán; the CEO of Worldline for Spain and Portugal, Martín Javier Aranda, and the director of CaixaBank Payments Business Development, Mireia López.
“Mobile payments already account for 22% of the total, more than two in 10 are paid in this way. This is already an important level of penetration,” highlights the business development director of CaixaBank Payments, to which the director of consumption and payment methods at Bankinter comments that “there is no European country with greater penetration of this product” than Spain.
Otamendi noted that the quality of customer service is excellent, so it is “hard to go back”.
The general director of Abanca Consumption and Payments highlighted the importance of the payments segment for large entities, since clients constantly interact with them through payments, whether with card, receipt or other means.
He also emphasized the “importance of banks working hard to provide easy, convenient and seamless customer service integrated into the purchasing process.”
“Payment seems like a very mature segment, but it has an incredible future,” added Aranda, who recalled that “there is a lack of investment in technology.”
The transformative effect of the digital euro
Regarding the digital euro, Garrido has said that it will rely on “another payment method”, but López considers “unrealistic to say that this will not mean changes”.
Your speed will be “set by the governor”, although different countries accelerate in different ways depending on their starting point.
“The digital euro is due to technological evolution, to the regulator's interest in offering an alternative to cash,” adds the head of payments at BBVA Espanha, Roberto Pagán.
The CEO of Wordline for Spain and Portugal, for its part, added that the use of cash “still very high”, while the head of business development at Getnet Europe has highlighted that the digital euro will be a “controlled environment” payment and that “someone will be able to decide where to use those euros.”
Aranda said: “Talent must be taken care of. Young talent mixed with experience is the best combination,” says Aranda.
Importance of information
Data has become very important in recent years as it is important to manage it and provide all the information to the organization through two payments.
“Payments are terrible data generation tools. Our obligation is to protect them and dedicate them to what the client wants,” specifies Garrido, who sees “a great distrust in the management of this data on the part of the client.
This data allows companies to make recommendations, which helps customers anticipate and know their finances well, according to the head of payments at BBVA, who believes that a balance is necessary between having information and the client "know what to do".
Security is a key element.
Pagán pays attention to the importance of security when it comes to make payments and clients are aware of the risks of their behavior.
“We go a long way when clients understand the risks of their actions. Just as you don't give your wallet to anyone on the street, don't give away your credentials,” he said.
Garrido also added that there is a great need to do educational work with clients and that this is an issue in which banks are working hard.
“Banks cannot refuse to invest in securities because of what we represent. In any case, he commented”, stressing that Bizum is a “very powerful brand” and should continue to be used to protect payments.
López said that in that sense "helped" the regulations and recalled that “bandits always go faster”, so it was necessary to maintain investments in technology and be “very attentive” by constantly alerting customers.
Enter the new payment section.
Director of Bankinter Consumption and Payment Methods He highlighted that we must look at the new emerging players, whose business model “is not always sustainable”, but cannot be ignored.
Martínez recalled that fintech “they are born from a certain insufficiency” in the structure of banking entities, while López, among other things, is committed to a mixed model of alliances and joint ventures, since in CaixaBank “they participate in projects that contribute to clients”..