CaixaBank, a Spanish bank, has developed an app that enables businesses to accept payments, view account history, print receipts, and manage refunds all from a customer’s phone without the use of additional hardware.
According to CaixaBank, the product is useful for large businesses, restaurants, and retailers who deliver. Once they register for the service, businesses can get login information for the app and begin taking payments.
The transaction amount must be entered on the main screen before the customer holds their card (physical or digital) up to the phone to complete the purchase. The application requests the PIN if it’s necessary for the transaction. Refunds can also be handled by the app.
Read More: CaixaBank launches app to turn phones into POS devices