Mobile payments provider iPayst launched its services in Spain. The app has already been successfully implemented in various European countries, among which: Germany, Turkey and Italy.
How does it work?
The iPayst app (availbakle for IOS and Android), asks you to enter a ceditcard number when registering. When entering a store one will need to scan a QR code, which is provided by the staff and which allows to make purchases easily (by just entering a pincode)
The app, developed by UMT AG, was first launched in Gemany. In Spain it will be serviced by Banco Sabadell. Credit card information is not saved in the telephone or any internal or external memory. Because the app doesn’t use NFC, it’s compatible with any other mobile solutions.