CaixaBank Reaches an Agreement with Samsung to Include Samsung Pay in its Mobile Payment Method Offer

CaixaBank has joined forces with Samsung Electronics Co., Ltd to make the most advanced technology in financial services and payment methods available to customers of the bank.

Through this move, the bank steered by the Chairman Isidro Fainé and CEO Gonzalo Gortázar, becomes the first bank in Spain to include the mobile payment service, Samsung Pay, in its payment method offer. Customers from CaixaBank and imaginBank will be the first to enjoy this safe and simple mobile payment service, which can be used to make purchases almost anywhere you can currently pay with a contactless credit or debit card.

CaixaBank launched its first mobile payment service, CaixaBank Pay, based on HCE technology, last September, and this agreement enables CaixaBank to enhance the range of mobile payment services offered by the bank. The bank is developing its payment method innovation strategy with the aim of incorporating the latest global trends in its offer.

In addition, Samsung is CaixaBank’s key partner for its promotional campaign strategy, focusing on actions that seek to capture salary account customers and business customers. As a result of this collaboration, over the last years, PromoCaixa – an affiliate of the CaixaBank Group– has enabled more than 700,000 customers from the bank to enjoy the latest Samsung products, including tablets, televisions and smartphones.

Mobile payment services: Samsung Pay

The signing of this agreement enables CaixaBank to enhance the range of mobile payment services it offers. The bank is developing its payment method innovation strategy with the aim of incorporating the latest global trends in its offer.

Samsung Pay is a mobile payment service that is:

SIMPLE: To make a payment with Samsung Pay, users simply have to swipe up to open the app, scan with their fingerprint and pay.

•SECURE: Samsung Pay uses digital tokenization, Samsung KNOX and fingerprint authentication to guarantee secure payments. This high level of security is available as smartphones have been updated to the EMV (Europay and MasterCard VISA) standards.

WIDELY ACCEPTED: Samsung Pay works in more than 70% of stores in Spain that already operate with contactless technology, amounting to over 600,000 payment terminals.

The service has been tested over the last few weeks and will be offered to customers in the coming months. After the launch of the service, users can download their CaixaBank debit or credit cards on their smartphones in order to make payments.

Guaranteed security

Samsung Pay users will also be backed by the full security guarantees provided by the bank’s cards.Data are always transmitted securely as happens when cards are used.For payments over 20 euros, customers will have to enter their PIN at the payment terminal.

Moreover, when a mobile payment is made, regardless of the amount, customers receive a notification informing them that the transaction has been performed.

In addition, the CaixaProtect service, which guarantees the security of card services, online banking and mobile banking at CaixaBank, ensures that customers are fully covered against any electronic payment methods of which they are not responsible.

Samsung Pay can be used in Spain on the smartphones Samsung Galaxy S6, Samsung Galaxy S6 edge and Samsung Galaxy S6 edge+.