Yaap Shopping, the Spanish mobile commerce service launched by the alliance of CaixaBank, Santander and Telefónica is being powered by Monitise.
Yaap Shopping is a virtual mobile commerce service in which thousands of retailers in Spain can generate revenue through digital interaction with consumers via offers, discounts and loyalty programs within a state-of-the-art, cloud-based mobile commerce system. It also gives consumers the ability to buy on the move from local retailers that they use every day.
The joint venture members first unveiled details of Yaap in an announcement on April 10th. The alliance, initiated in Spain, has a mission is to create new and open digital services with a global outlook.
Yaap represents the first time in Europe that financial institutions and telecom operators have joined to innovate together in the creation of new digital services. It has the potential to reach 600,000 businesses in Spain alone. Monitise’s involvement with the agreement follows on from a five-year alliance formed with Telefónica, announced on July 1, 2013.
For more data on Yaap and Monitise access CardData®. For information and commentary on Yaap and Monitise visit the searchable CardFlash® Library of more than 58,000 articles published since 1995. Custom RAM Research® projects on Yaap and Monitise are available exclusively through CardWeb.com.®
Monitise is a leader in Mobile Money – banking, paying and buying with a mobile device. Leading banks, payments companies, retailers and mobile networks utilize Monitise’s technology platforms and services to securely connect people with their money.
Already 28 million consumers benefit from our patented technology to ‘bank anywhere’, ‘pay anyone’ and ‘buy anything,’ accounting for $71 billion of payments, purchases and transfers annually. More information is available at www.monitise.com.