Yaap, the joint venture between CaixaBank, Banco Santander and Telefónica, has launched a mobile money app in Spain. 

Yaap money enables users to transfer money via a mobile number, Facebook username or Twitter username. Users link their credit card to the app, which is available on Android and iOS. 

A statement from the three companies claimed that the security of all transactions “is fully guaranteed, passing the strictest controls and tests prior to its release”.  

The service is available to anyone, regardless of their mobile operator or bank. 

The companies said their vision was to make the sending or requesting of money from friends and family “as easy as sending them a message”.

Yaap CEO Carlos Beldarrain commented: “Yaap money is the chat of money transfers; instant and safe. 

“Yaap money is social. It is no longer necessary to request an account number from anyone; now with Yaap money you will be able to send and receive money among your Facebook friends and Twitter network in the same way you chat with them every day.” 

The JV was formed in May 2013, with the three companies unveiling the Yaap brand in April this year.

Another Yaap service, Yaap shopping, is a customer loyalty network aimed at SMEs that includes a “virtual showroom” where stores can interact with potential customers. 

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