BARCELONA– March 31, 2017– Spanish financial services provider CaixaBank, along with Global Payments Inc., Visa, Samsung and Arval have joined forces to set up the Payment Innovation Hub, Spain’s first innovation hub for commerce and payment methods. The hub is among the first where multiple industry leaders from around the world will research and develop innovative payment solutions together.
The project was announced today in Barcelona at an event attended by Juan Alcaraz, Chairman of CaixaBank Payments and Managing Director of CaixaBank; Frank Young, Senior Vice President, Global Product and Innovation of Global Payments; Victor Kim, EMEA Director of Samsung Pay; Bertrand Sava, Regional Managing Director Southern Europe of Visa Europe; and Christophe Conegero, New Business General Manager of Arval.
The objective behind the Payment Innovation Hub is to present society with the best possible user experiences in purchases and commerce, both online and offline. The centre, which will be located in Barcelona, will specialize in research into new commerce solutions to cater to emergent consumer habits.
By setting up the hub, these partners will work together on projects to generate synergies and promote co-creation and learning, building on their experience at the forefront of innovation in their respective industries. The hub will also be open to collaboration with third party research companies (start-ups, SMEs and major corporations) and institutions, in order to jointly shape the payment technology solutions of tomorrow.
Investments of 5 million euros have been earmarked over the next 3 years to get the hub up and running.
Atlanta-Based Global Payments Inc. (NYSE: GPN) is a leading worldwide provider of payment technology services that delivers innovative solutions driven by customer needs globally. The company is a member of the S&P 500 with nearly 2.5 million merchant locations, close to 11 billion transactions processed and $550B in volume settled. The company is present in 30 countries throughout North America, Europe, the Asia-pacific region and Brazil