Movistar launches Movistar Money in Spain, a consumer loan service for its customers
May 14, 2019
Madrid, 21 March 2019.- Movistar launches Movistar Money in Spain, a consumer loan service with which the company's customers can easily obtain a credit of up to 3,000 euros in less than 48 hours, without documentation or opening or study fees.
This Telefónica initiative forms part of the new digital services that the company places at the centre of its strategy with the aim of breaking down barriers and making life easier for users. In this case, Movistar Money offers them the possibility of applying for credit in an easy, agile and secure way.
The service, which will be available from 10 April for all those who hold a mobile contract with Movistar, was launched in June 2017 although it is only aimed at a group of the company's customers who have ever financed a mobile device.
During this time, Telefónica has seen that customers, accustomed to financing their mobile phones through Telefónica Consumer Finance (TCF), the joint venture between Telefónica and the CaixaBank Group, have naturally experienced the fact that Movistar is now offering financial products in a competitive environment.
The company has taken advantage of its commercial capacity and CaixaBank's experience to offer a simple, undocumented online process that satisfies customers and guarantees the processing of their data.
For Telefónica Spain CEO, Emilio Gayo, "the Movistar Money service is part of the company's strategy to provide new digital services to customers that add value and make their lives easier and, at the same time, help us advance in diversification and revenue growth by taking advantage of our broad customer base".
Movistar's proposal stands out for the simplicity of the contract as the customer requests the loan from any device, with the highest levels of security and confidentiality, in just a few steps and without changing bank or direct deposit the payroll.
To apply for the credit, all the customer has to do is go to the money.movistar.es website and choose the amount to apply for -from 1,000 to 3,000 euros-, the instalment that best adapts to each person's needs depending on the term -24, 36 or 42 months-.
After an easy and quick online identification process, the customer will have the amount of the loan in his account in less than 48 hours, where he will also receive the monthly charge of the instalment selected under the Movistar Money concept.
Telefónica Consumer Finance (TCF), set up in 2014 50% between Telefónica and CaixaBank Consumer Finance to finance terminals for Movistar customers, is the entity that manages this online service exclusively for Movistar customers.
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