Enter the list of inventions Created by the Spanish throughout history, there are objects as outstanding as the submarine, the space suit, the lollipop, the jug or the mop. A series of new creations at the time, including some really revolutionary and others that are simple redesigns of existing products. Centuries and centuries of creations, ideas and proto R&D culminating in February 2014 with the birth of a new system of payments through the Internet: iupay, the Spanish version of the well-known, widely used… and worldwide widely analyzed PayPal.
Iupay, the payment system backed by the Spanish bank
BBVA, Santander, Banco Popular, ING Direct… Ironies aside, the truth is that iupay (or iupay!, ) is a serious initiative, endorsed by eight of the main players in the Spanish financial world, and which intends to compete with paypal for seizing a very desirable segment of Internet users in our country.
The way of functioning of Iupay is very simple: Raised by its creators as a “virtual wallet”allows its users to register free in a single account ten credit and debit cardswhich can be later used to pay in online stores that accept this new system. In this way, as in the case of PayPal, Iupay users will be able to pay in any eCommerce simply using a username and passwordwithout having to type in the identification data of your cards at any time.
Of course the future success of Iupay will depend, on the one hand, on the user interest for accessing a new purely national payment system and, on the other hand, for the ability of Iupay managers to convince online stores of the benefits that its use can entail. In addition, it will also be essential incorporation or not of other banks and savings banks to the system, allowing their clients to use the iupay virtual wallet.
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