BBVA doesn’t hide “invisible payments” strategy
BBVA is developing payment methods based on biometric technologies to make checkout at stores “invisible”.
It is already being used in cafeterias and restaurants at Ciudad BBVA – its complex of seven buildings that houses its headquarters in Madrid.
More than 1,000 employees use the app to automate payments and testing has begun on a biometric facial recognition system based on technology from the start-up Veridas, a joint venture of BBVA and Das-Nano in 2017.
In a world where everyone is desperate for attention and staying visible, BBVA says its “invisible payment revolution” lets users order a coffee, pick it up without waiting in line and pay for it without their wallets.
The app also allows people to reserve a table, eat and leave without asking for the bill. Customers need to wave to the waiter, who will verify their reservation in the system so that the bill is automatically registered in their account.
BBVA says: “If you want, you’ll always be able to see the content and amount on your account during the meal. When you finish, you can leave whenever you want without any type of additional interaction being necessary (neither with the app, nor the waiter).”
This will be great news for misanthropes who would prefer not to speak with anyone.
“With this project, we’re eliminating the friction points for customers when they make a purchase in a store. They avoid lines, and have a more digital experience with better information,” BBVA’s head of global payments Ignacio Bañón adds.
The app was designed along with Sodexo Iberia, the group’s restaurant partner.
The system recognises the user’s face through cameras equipped with artificial intelligence (AI), and directly charges the card associated with their profile.
BBVA doesn’t reveal any names or timelines but it says it has other pilot projects with “large firms in different sectors”.