BBVA Compass rolls out digital wallet

Source: BBVA Compass

BBVA Compass today launched its digital wallet, giving clients a convenient new way to monitor and safeguard their BBVA Compass credit and debit cards.

BBVA Wallet, available as an app for iPhone and Android devices, gives clients a real-time view of card transactions and the ability to temporarily or permanently deactivate lost or stolen credit cards. The service also allows the bank's credit card holders to set up transaction alerts and change their PINs.

BBVA Wallet is an extension of the bank's efforts to give clients greater control of their finances and to make banking faster and easier, said BBVA Compass Chief Digital Banking Officer Jeff Dennes.

"We continue to give our clients the ability to do things in a few taps that previously required a phone call or a visit to a branch," said Dennes. "This is just the beginning of our digital wallet service, too. It will serve as a foundation for giving our clients even greater control and convenience in the future."

BBVA Compass' parent company, BBVA, first launched BBVA Wallet in 2013 in Spain and has since built a following of more than 570,000 users. The service was introduced to clients in Chile and Mexico earlier this spring.

Dennes said BBVA Wallet was built in-house, allowing the bank to introduce enhancements to the service at its own pace.

"The service is homegrown and we own the code," said Dennes. "There's no waiting on a vendor to introduce functionality that is also being sold to our competitors. Our clients' needs will determine what we add to the service and when."

BBVA Wallet is available for download free from the App Store and Google Play.*

Initial BBVA Wallet functionality for BBVA Compass cardholders:

Access individual credit and debit card transaction details
Change the "nickname" assigned to a credit or debit card
Activate a credit card
Temporarily block credit card activity by turning card "on" or "off"
Permanently block and reissue a credit card
Change a credit card's PIN
Generate credit card transaction alerts

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