Spanish lender CaixaBank has signed an agreement with Samsung Electronics to add Samsung Pay to its mobile payment service.
Through this deal, CaixaBank and its newly-launched mobile subsidiary imaginBank customers will be the first in Spain to acess the Samsung Pay service.
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This mobile payment service will be accepted in all stores that already use a contactless pay option, with the number amounting to over 600,000 payment terminals, the bank said.
The service, which has been tested over the last few weeks, will be rolled out to customers in the coming months.
Following the launch of the service, users can download their CaixaBank debit or credit cards on their smartphones to make payments. The service requires customers to enter their PIN at the payment terminal for making payments over EUR20.
In September 2015, CaixaBank launched its first mobile payment service, CaixaBank Pay, based on HCE technology.
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By GlobalData
