Publication of inside information pursuant to Article 17 of Regulation (EU) No 596/2014
RUBEAN receives order from BBVA Bank for testing a mobile payment solution
- RUBEAN's PhonePOS solution is piloted in Spain
Munich and Madrid, 20. August 2020: The FinTech company RUBEAN AG, Munich, (ISIN: DE0005120802, WKN: 512080, R1B:GR) has received an order from the BBVA Group (NYSE: BBVA), Bilbao, Spain's second largest bank and one of the leading banks in Latin America and the USA, to carry out a proof of concept by integrating its PhonePOS solution into an already existing merchant app so that merchant customers of the banking group can accept card payments directly on their Android smartphones without additional hardware. The trial is to be launched this year as part of a pilot project with up to 2000 merchants in Spain.
With PhonePOS, Rubean offers a cost-effective way for smaller retailers and organizations to accept cashless payments easily. With PhonePOS, the retailer's smartphone or tablet becomes a POS terminal that accepts contactless card payments anywhere. During this proof of concept, BBVA's merchant clients will no longer need additional hardware that they previously had to buy, rent, or lease. The company regards BBVA's order as an important milestone in its corporate development.
PhonePOS has already been approved for pilot projects by the two leading credit card organizations Mastercard and VISA and is starting at a time when contactless payments are gaining importance worldwide.
The Management Board
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