For activation, bank customers will need their banking app, an NFC-capable mobile device, a valid credit card, and a current version of the Google Pay app. To activate a credit card for Google Pay, bank customers will need to provide one-off approval for their card for the relevant payment system, and confirm using a TAN, in addition to agreeing to the terms and conditions of use for the relevant payment system and/or the respective bank in the Google Pay app. In this process, a token is used to store a virtual credit card on the end device, which can then be used for payment in physical or online shops.
Martin Unterbäumen, VP Global Product Management at CREALOGIX said: “Consumers want convenience and they want to know that the convenience does not come at the cost of security. The payment app revolution is underway and banks need to ensure their customers can use this with all the benefits as part of their personalizable offering, with premium user experiences and with the peace of mind that security is the highest priority. CREALOGIX is working with banks across the globe to help their customers connect with Google Pay without leaving the banking app. This delivers exactly to the customers’ expectations in the mobile banking era.”
CREALOGIX is working with the leading global retail banks to provide the best digital experiences to their customers. The results of launching more innovative products within weeks, rather than months, has provided CREALOGIX’s banking clients with enhanced customer retention and increased customer satisfaction.
Jasmin Epp, Group Communications & Brand Manager
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The economic projections and predictions contained in this information relate to future facts. Such projections and predictions are subject to risks, uncertainties and changes which cannot be foreseen and which are beyond the control of CREALOGIX Holding AG. CREALOGIX Holding AG is therefore not in a position to make any representations as to the accuracy of economic projections and predictions or their impact on the financial situation of CREALOGIX Holding AG or on the market in which CREALOGIX Holding AG shares and other securities are traded.