Caixabank recently demonstrated that banks are making progress in avoiding security issues and improving their customer experience when it comes to debit and credit cards. BBVA has added new functions to its cards in this instance. Its goal is to reduce fraud and streamline transactions. It proposes, among other things to do so, the introduction of the biometric sign of operations to replace SMS.
Safetap is a replacement for Safetap. It works in Spain and Mexico, while Peru uses a QR code to activate the Safetap tool. This will eliminate the need for phone calls or mobile messaging authentications. BBVA was a pioneer in offering customers the option to sign their transactions from their mobile app with biometrics. However, they had to visit an ATM before. This is now much easier thanks to Safetap, which allows clients to activate their biometric signature using the 'contactless card' and the mobile phone in a shorter time.
Biometric signing removes the need to send a message in order to receive a code. This prevents cybercrime like'smishing,' the sending of fake text messages, and other forms of fraud. It prevents customers from having to deal with access issues when they travel abroad and cannot receive messages.
Safetap, a new functionality available in Europe to customers with an Android phone with NFC and a BBVA contactless' card activated, is a revolutionary feature. The bank entity points out that nearly 70% of their clients have Android devices and that more than 50% of cards they issue are contactless. This is why it is important to reach the largest possible user base.
BBVA Spain points out that the system's greatest advantage is its global capability, which will make it possible to expand to other countries quickly.