BBVA just announced that its Wallet app surpassed one million downloads since its launch in 2013. The news comes as the Spanish bank reports that Wallet will launch with Turkey’s Garanti Bank this week under the brand name BonusFlas. BBVA’s Wallet app is currently available in four other countries: Mexico, Chile, the United States, and Spain.
Saying that plastic card users will be in the minority by 2020, global head of payments for BBVA, Mehmet Sezgin, put BBVA at the center of the movement toward mobile payments. “As the only bank operating digital wallets in five countries around the world, we are at the forefront of the major transformation from plastic to mobile,” he said.
Marisol Menendez Alvarez and Jose Antonio Gallego of the Open Innovation Team at BBVA demonstrated Stockbuzz at FinovateEurope 2013.
BBVA’s Wallet enables customers to:
- Make contactless payments with smartphone using their BBVA cards
- Turn cards on or off in case of loss or theft
- Link cards to specific types of transactions (i.e., offline or online only)
- Borrow money from within the app for purchases
BBVA’s app topped 250,000 downloads in September 2014, meaning that three-quarters of the app’s million downloads have come in the past year alone. One of the more innovative banks in Europe, BBVA acquired Simple for $117 million in February 2014, and over the summer introduced its Apple Watch app.
Founded in 1857 and headquartered in Madrid, Spain, BBVA operates in more than 30 countries, and has more than 47 million customers. The company demonstrated its Stockbuzz platform at FinovateEurope 2013 in London.
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