(Please note that this is a machine translation)
In a permanent quest to generate better payment experiences for the client and deepen the replacement of cash, Bci joined Google and Visa to become the first bank in Chile to allow purchases through the cell phone with the Google Pay application.
With the platform, which will start operating from this Friday, customers of the bank with a Visa credit card will be able to make purchases more quickly in Chile and abroad in POS with contactless technology,
To operate this new form of payment, users must have an Android phone with contactless technology and register their Bci Visa credit card in the Google Pay application. Once the card data has been entered into the application and verified by the bank, the users are ready to operate their cell phone as a mobile payment wallet.
Bci customers who have an Android cell phone and who occupy the bank’s mobile application represent 74%, which means that about 200,000 people will be able to access this new payment method. It should be noted that this payment system operates in 29 countries such as the United States, Brazil and Singapore, among others.
The corporate manager of Means of Payment of Bci, Mauricio Araya, explained that “in Bci we are in the permanent search to innovate and digitally transform our bank. This strategic alliance with two leading technology companies in the world, such as Google and Visa, will allow us to improve the payment experience for our customers in physical stores and reinforces the work the bank is doing to increase banking penetration and improve customer experience in digital payments.”
Verónica Goldfart, Head of Industry, Travel, Finance and Government of Google Chile, said that “we are very happy that more and more people have the possibility of using Google Pay in Chile, this time through the hands of Bci. Google Pay is a fast, easy and secure option to pay on websites, applications and stores, using cards entered into a Google account. Our ecosystem is completely open and we work constantly with hundreds of businesses, banks and governments around the world to have solutions that improve the user experience, in this case related to payment. We integrate with various applications and websites that users love to enhance stimulating trade experiences and make our technology available to all people.”
Meanwhile, Marcelo Casas-Cordero, director of Product Services at Visa Chile, expressed his satisfaction ith the agreement, noting that “thanks to this security technology provided by Visa, Bci cardholders, through access to Google Pay, have a mobile payment alternative, efficient, fast and secure, being the second that we launched in Chile.” In addition, he stressed that “This initiative is part of the permanent action of Visa for improving payment experiences for consumers and businesses in general.”
Casas-Cordero delved into the security aspect of Google Pay, mentioning tokenization through the Visa Token Service. It consists of a technology that creates a unique digital identifier (token) that replaces the sensitive information of consumers for digital transactions. “Payment security is a critical factor in ensuring that users feel safe using mobile phones to pay. Here the Visa Token Service adds great value to the mobile payment experience, protecting the data of our consumers.”
It should be noted that the token is based on international ISO standards and, therefore, the acquiring and issuing businesses can process and route in the same way as traditional card payments.