Mobile payments are on the rise. There are more and more possibilities to pay with a smartphone, or even with a watch. And Spain is catching up with this trend as it currently has all the great mobile payment systems.
Data on mobile payments in Spain
According to Statista data, mobile payments in Spain are advancing, but slowly, in volume of transactions and in users. Statista estimates that this year about 1.7 million Spaniards will pay over their phones a total amount of 350 million euros.
Statista’s estimates are that by 2021 3.4 million users are expected to be using their phones to pay, and a total amount of 1883.5 million euros.
Android Pay arrives in Spain
The third tech giant to start offering these services in Spain has been Google, which last week announced that Android Pay was finally arriving in Spain, after a year of delay in front of the Samsung Pay system and eight months after Apple Pay.
Although this was good news that puts Spain together with a small list of countries in Europe that, until now, only included in the United Kingdom, Poland, Ireland and Belgium, the launch has not been at the top, as expected , as only BBVA is available to connect with this type of payments, although the number of entities and cards is expected to expand soon. BBVA customers will be able to use their Visa and Mastercard cards to pay with their mobile phone.
In this way, the entity is placed as the first to make mobile payment available to users through Android Pay in Spain, and expands the mobile payment options that until now were limited to BBVA Wallet, the company’s own application.
The best of Android Pay
Google’s goal with the launch of Android Pay is to turn mobile into the new virtual payment method so that people don’t have to be using other methods. In addition with this Google wants to catch up, or even outperform Apple Pay and Samsung Pay.
The best thing about Android Pay is that you don’t need your phone to be an iPhone, as in the case of Apple Pay, or a Samsung Galaxy, as in the case of Samsung Pay. Simply have an Android terminal, NFC connectivity and a version 4.4 of Android or later.
Using Android Pay is very simple and intuitive, the user downloads the application, adds a compatible card, and to make a purchase you only have to turn on the phone and bring it closer to the sales terminal as if it were a contact card. Simply because your phone is turned on is enough, you don’t need to unlock it, or open the app, as Android Pay will be activated automatically.
Once the purchase is made the user will receive the payment information on his mobile, and thanks to the application you will be able to have all the receipts centralized and controlled, without having to store them in a bag or wallet.
Another advantage of Android Pay is that it does not generate any additional cost for users who pay through it, which can be checked on the invoice.
Safety above all else
Android Pay is also a totally secure payment system, since the user’s card number is not shared with the store, or with any other device. This is because when you pay the app creates a virtual card number that will be displayed in the logs, keeping the data protected and secure.
In addition, if the user loses the phone or is stolen with the help of the Android Device Manager will be able to locate and lock it at the moment remotely, you can also change the password or delete all the information available on the device.
To add a card is also quite simple and secure, you simply have to select the card that the user has in their Google account, or you can also add any card by taking a photo, or by entering the card number manually.
The first card you add will always be the default card with which purchases were paid, and all charges will apply to it. If the user wants to change the default card, simply tap the card they want and select the “Set as default card” option.
Where can it be used?
In order for the system to attract a good number of users, Google has been responsible for partnering with large and famous chain stores in Spain and worldwide, so that users can pay with Android Pay without problems.
Specifically, according to a statement from Google, Android Pay will operate in more than one million stores throughout Spain, including El Corte Inglés, VIPS, Zara, Bershka, Ginos, H&M, Lidl, MediaMarkt, Fnac, The Cortefiel Group, Repsol, and many more, all with the aim of facilitating and improving the shopping experience of their customers.
But Android Pay not only works in physical stores, but can also be used for online purchases through web pages or even apps. To do this, the user will only have to search for the Android Pay button when buying online and the purchase information will be automatically charged, and the user will not have to include any payment or address information.
This option is now available in some of the world’s leading web stores such as Deliveroo, Fancy, Hotel Tonight, showroomprive.com, TransferWise, Vueling or Zara, and will soon be available for purchase at Just Eat and Privalia.
Banks don’t bet on this payment method
Although in Spain mobile payments remain strange in society and there is complete ignorance on the subject, Spain already has available the three main mobile payment platforms (Samsung Pay, Apple Pay and Android Pay), even if it is with a lot of limitations on supported entities and cards. It seems that, unlike other countries, banks in Spain are the ones that are betting the least on this new payment system.
Android Pay has managed to count, in Spain, with the support of BBVA, that despite being one of the most important banks in Spain, it limits the margin of action.
For its part Samsung Pay, has achieved a good position on this issue since it has the support of CaixaBank, ImaginBank, El Corte Inglés Financial Services, Banco Santander, Abanca and Banco Sabadell. This makes Samsung Pay the current leader, but it is still limited by the devices on which it can be used.
Apple Pay has something similar to Android Pay, since only Banco Santander users can use these services. But in the end of 2017 CaixaBank, ImaginBank, VISA and N26 will be added to the end of this year, which has announced that by the end of this year their customers will be able to have Apple Pay.
According to Juan Alcaraz, CEO of CaixaBank, “we firmly believe that Apple Pay is a great example of how financial institutions can work together with the technology industry to develop new services for the benefit of the customer. Apple Pay is a step forward in CaixaBank’s commitment to mobile payment and reinforces a totally differential commercial range in the market thanks to the combination of technology and development of exclusive services fully focused on offering the best user experience.”
Leading the mobile payments market
These three platforms have a common goal of leading the mobile payments market. However, this has just begun, but they are being mobilized and not only in the area of partnerships with banks.
For example, according to leaks from Gadgets 360, Samsung is studying how to take Samsung Pay beyond the Galaxy, and could be in conversations with other manufacturers. This is not confirmed by the company, but according to Gadgets 360 Samsung wants its mobile payment system to be more universal.
As apple’s leaks, the iPhone 8’s facial recognition could serve as a method of verifying the device’s user and may be used to make payments with Apple Pay, setting aside the Touch or even making it disappear.
But these three main platforms are not the only ones moving in this field, as LG Pay could reach Europe by 2018 and would be available for low-end mobiles.
