Transbank S.A. and AEVI announced a strategic partnership to help Transbank’s customers in Chile deliver omnichannel and digital in-store experiences for their merchants.
Founded as a credit card processing intermediary in Chile, Transbank has led the development of digital payments for almost 30 years. Transbank was chartered as the single merchant acquirer and card issuer for Chilean banks and has a critical role in the Chilean economy, responsible for the country’s electronic payments network, serving Banks with approximately 170,000 merchants.
In April 2019, Minister of Finance Felipe Larraín announced government initiatives to promote technological innovation in business transactions.
“Transbank will continue to lead merchant payments as the demand for new digital and connected commerce grows,” says Ricardo Blumel, Manager Division Marketing and Development, Transbank. “AEVI’s open platform for next-generation acquiring services gives us the flexibility to choose innovative partners relevant to our clients and rapidly bring their solutions to market in a secure environment.”
The strategic collaboration with AEVI allows Transbank to open an ecosystem for start-ups and facilitate integration between different developers’ solution. This means Transbank’s channel partners can easily integrate payments and value-added services for its merchants. These value-added services allow merchants to manage their businesses better, simplify daily operations, and increase interaction and loyalty with their clients to improve the shopping experience.
With this collaboration, Transbank will initially provide smart payment devices with both a point of sale app and a loyalty app. Merchants will be able to better manage sales and provide digital loyalty programs.
The pilot for this new solution will commence November 20th and will begin with 10 merchants primarily in the restaurant industry in the capital city, Santiago. The companies are aiming for a soft launch by the end of January 2020. Subsequently, Transbank will bring to market specific solution sets of apps and services to suit the needs and enhance the checkout experience of specific merchant types.
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