Payphone, a credit card in your phone

Image: Expreso

The vice president of Produbanco means of payment, Sebastian Quevedo, talks about the new Payphone application that allows users to pay from their phones.

Produbanco has partnered with Ecuadorian entrepreneurs to promote payments through a mobile application

Quevedo explains that the application for smartphones can be associated with credit cards or debit cards that are normally used in a purchase. “But the big difference is that at the moment I am in a store affiliated with Payphone I don´t give any information, not even the physical card.”

“The goal is 7,000 outlets this year that accept Payphone as means of payment. We have achieved 200 stores in two weeks. We are interested in shops with non extremely high profile.” Quevedo indicated on the enrollment process to this system.

Finally, the transaction fee will be 15 cents and will be assumed by the bank.

Source: http://expreso.ec/expreso/plantillas/nota.aspx?idart=8640572&idcat=38229&tipo=2