The payment company, WIPAY and the multinational, Visa, have announced their alliance, which will allow Fintech to introduce fast and secure digital payments both in more digitally consolidated sectors such as retail, as well as in new environments such as car parks, vending machines, electric vehicle charging or self-service car washes where up to now cash was the predominance.
This collaboration occurs at a time when digitization is transforming the way we pay and Spaniards are increasing the use of digital payments. WIPAY, as a new associate member of Visa, and relying on the network and processing capabilities of its network, VisaNet, begins its journey as a new player enabled to deploy its technological solutions, with special focus on Android technology.
Llorenç Rubió, WIPAY Payment Director, highlights: “There is no doubt that the emergence of Fintech has been key to innovating and improving the user experience in the payments ecosystem. However, for all this potential to be consolidated in the market, alliances such as companies such as Visa are also important, as this is how we will comply with our goal in WIPAY: to be a relevant actor in the democratization of payment services, designing simple, secure and agile solutions, offering our users the best experience and in turn encouraging activity in businesses”.
Eva Ruiz, Visa Head of Fintech in Southern Europe, signs: “At Visa we want to continue promoting innovation in payments hand in hand with Fintech companies, collaborating and supporting them to develop disruptive solutions that allow consumers to pay with their mobile phone or card from anywhere and at any time quickly and safely. WIPAY combines technology and payment acceptance services, which will allow consumers to choose, where before there was only the option of doing it in cash”.
Boosting the Spanish Fintech ecosystem
One of the objectives of this alliance is to support the digitization process in means of payment of the WIPAY solution, a trademark of Global Payments Systems, an entity with great potential for expansion and that is part of the Petroprix Group. This business group has been since 2005 working different lines of business within the energy and insurance sector, reaching a volume of business that aims to reach 800 million euros this year.
With this agreement, Visa, in addition to promoting the digitization of companies with the potential of WIPAY, seeks to continue promoting the Fintech ecosystem in Spain, through being a network of networks that connects and collaborates with new players to promote the payments of the future.