“PayKey proposition is tailored to help the banks remain competitive in a current”
President and Head of Business Development at PayKey, Dario Mutabdzija, says they would like to establish a working partnership with BBVA in different jurisdictions around the world “where your customers would have an opportunity to enjoy the PayKey keyboard capabilities”.
How does PayKey exactly work?
PayKey makes payments on all social network chats possible.
PayKey keyboard that is connected with a banking mobile application enables payments within any social network, including Facebook Messenger, WhatsApp, Twitter and others. Leveraging existing networks and payment rails creates simplicity and an intuitive payment experience. Users enjoy instantaneous money transfer capabilities while chatting with their friends and family members. The Bank remains in full control over the entire process, one should see PayKey (post integration) as an inherent part of the banking mobile application.
As consumers become increasingly comfortable conducting transactions on emerging channels, it is imperative for banks to offer services that cater to the changing tastes. PayKey’s technology is the first to bridge this gap between banking (bank users) and social interactions (social networks). With PayKey customers enjoy the security of the trusted banks within their favorite applications where they spend bulk of their time, making everyday banking easier and more efficient than ever before.
What are your competitive advantages?
PayKey benefit banks in 3 ways:
- Position the bank as innovation leader in the market.
- Constitute the strategic driver for market growth and retention of millennials.
- Increase revenue and EBIT.
Also, PayKey technology’s main differentiators:
- Social network agnostic.
- White label: branded for the bank.
- API level integration: very low risk.
- Using the bank payment system (no changes to the current security practices).
- USPTO patent has been filed for the technology.
What aspect is the most innovative about your project? What do you think, was the most interesting part of your project for the jury?
The most innovative aspect of our proposition for the jury, we believe, was the fact that the PayKey proposition is tailored to help the banks remain competitive in a current landscape by giving users new and delightful functionalities in a cost effective and very easy to integrate manner.
In what way do you think you could work together with BBVA? What do you expect of the relationship with BBVA?
We would like to establish a working partnership with BBVA in different jurisdictions around the world where your customers would have an opportunity to enjoy the PayKey keyboard capabilities.