BBVA Wallet, the bank's mobile wallet with a full slate of functionality, including an up-to-the-minute view of purchases and reward balances and the ability to redeem rewards in real time, has further enhanced its features, adding Mobile Location Confirmation (MLC), underscoring the bank’s focus on digital as a path to enhanced customer experience.
“This app is a home run in terms of giving customers the convenience to manage their BBVA Compass credit and debit cards on the go,” said Jon Groch, executive director for Payments and Consumer Loans. “Our newest feature allows customers more in the way of security and access, and in combination with the features BBVA Wallet already includes, pushes it to the top of the pack.”
This app is a home run in terms of giving customers the convenience to manage their BBVA Compass credit and debit cards on the go"
MLC uses geolocation information being transmitted by a customer’s mobile device as a means of approving debit card transactions for customers when they travel. When a customer enrolls in MLC, the bank is able to know at the time of purchase whether the cardholder’s device is nearby. Groch says such technology gives customers reassurance using their debit card when they travel.
“Having your transaction turned down at the point of sale is both frustrating and embarrassing, and this is a more common occurrence when people travel,” he said. “The added MLC functionality alleviates that just by having our customers do what they would anyway - carry their phone.”
With the added MLC functionality, BBVA Wallet adds to an already robust set of features, some of which include transaction alerts, real-time rewards redemption and credit and debit card blocking. BBVA Wallet features can make using BBVA Compass debit or credit cards safer, more secure and rewarding.
Groch concluded, “BBVA Compass is focused on digital transformation, which is a lofty goal, but it’s also worthy, because in our transformation, we are focused on providing our customers products and experiences that give them opportunities to make their future brighter and stay in control of their financial journey. BBVA Wallet helps customers do that.”
For more on BBVA Wallet, click here.