The English Court is currently working on launching our own payment platform, as they advance from The Economist. The group would have already registered his name, ECI Pay, at the European Union Intellectual Property Office. For now there are not too many confirmed details about this platform, for which the company is already preparing the necessary infrastructure for it to work. In addition, it has several technological partners for its development and implementation, with which it would already be working.
Apparently, ECI Pay would have two functions. The first one would serve to carry out payments through Internet and, of course, through the company’s application. It will also give the opportunity to enable a payment button on other platforms and applications. Of course, for this, El Corte Inglés will have to reach different agreements with the companies that want to enable this payment platform in their applications and websites.
By allowing its integration into other platforms, the operation of ECI Pay would be similar to that of other multinational payment platforms. This is the case of Amazon Pay, Amazon’s payment platform, available in its online store and on the websites and portals of other companies.
Of course, there is still nothing definitive, since this platform, for the moment, is a pilot project. For this reason, it cannot be ruled out that when its final and definitive version arrives, it will have more functions and options, such as deferral of payments. It is also possible that your possibilities go even beyond financial services.
The company has decided to take a step forward in terms of payment platforms with its own, after in recent years it has allowed third-party payment platforms to enter its online store, to the point of allowing certain payments through Bizum since 2020 Currently, in addition, El Corte Inglés allows you to make purchases through Paypal, Alipay and Wechat. In addition, it has a payment card, renewed in October of last year 2022, which allows paying not only in its establishments, but in several third-party ones. Among them, at Petronor and Repsol gas stations.
Currently, this card has approximately 12 million users, and since last fall, and thanks to an agreement with Mastercard, it is taking the necessary steps so that your card allows you to pay at any store. However, to do this, you will have to replace the cards that your customers have with new ones, a process that you have already started.
In addition, the card offers the option of deferring purchases in three months without interest, which is possible from 75 euros, and two lines of credit. One of them is used to buy at El Corte Inglés and at establishments associated with the company. The second is for purchases at other points of sale.
