CaixaBank Now Offers International Payment “Wallets”

CaixaBank will be the first Spanish bank to offer virtual currency accounts to all companies through its FXNow platform for currency markets.

The service will help companies send and receive foreign payments by giving them virtual accounts in more than 50 currency pairs. These accounts will be free to open and keep up. The service, called FXWallets, will have many of the same benefits as standard bank accounts, as well as a faster and better user experience.

The bank said that starting in September, users who want to use FXWallets will be able to do so through the bank’s website and mobile app. Right now, FXWallets are being tested in a pilot programme.

Iaki Badiola, director of CIB and International Banking at CaixaBank, said in a press statement about the news:

“The launch of FXWallets is a very significant step in the bank’s steadfast commitment to innovation, internationalisation and engagement with our customers and their needs. The development of the project involved a detailed analysis of how we can apply the new advances in usability and customer experience to the universe of currency payments, placing the focus on the customer at all times.

As a result, FXWallets is the latest piece to join a constantly evolving digital ecosystem that came into being with the creation of FXNow, which sought to give companies complete control over their currency operations and international payments”.

CaixaBank made headlines earlier this year when it released an app that turns phones into POS devices. The app lets merchants accept payments, check their account information, print receipts, and handle refunds all from their phone.