Spain has a payment innovation hub, the first of its kind. CaixaBank, Global Payments, Visa, Samsung and BNP Paribas’ subsidiary Arval have come together to set up this hub to ‘present society with the best possible user experiences in purchases and commerce, both online and offline’. The hub will be located in Barcelona and will specialize in research into new commerce solutions to cater to emergent consumer habits. It will also be open to collaboration with third party research companies and institutions. CaixaBank said investments of €5 million have been earmarked over the next three years to get it up and running. There will be three areas of research – solutions for connected cars; domestic applications, particularly the internet of things (IoT); and commerce.
