MADRID (dpa-AFX) - CaixaBank, Santander (SBP, SAN.L) and Telefónica (TDE.L, TEF) announced they have signed an agreement to create a joint venture to develop new business opportunities based on the latest mobile and communication technologies.
The new company will begin its activities with the management of an online community to ease the connection between merchants and consumers when it comes to offers, discounts and promotions. This community will be a new tool for retailers to boost sales. The joint venture will develop a Digital Wallet in which customers can keep all their cards, which will serve as identification in stores and for making purchases within the digital community, as well as being a person-to-person mobile payment service for community members. The company plans to start its activities in Spain and commence an internationalization process in the short term.
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