From physical to virtual cards

Credit cards were created in the 1950s, and with the arrival of smartphones, virtual cards became popular. Let’s review the history of cards and their possibilities.

 

Sixty years ago the first payment card was introduced and, since that day, the way we shop has changed to adapt to the era of e-commerce, bringing about a radical change in the way we pay. The way we consume is constantly changing, specially with the increase in e-commerce, following the start of the Covid-19 pandemic in 2020, as can be seen in the study carried out by Kantar, which states that 3 out of every 4 Spanish households have made purchases online in 2020, and that these households will continue to shop online in 2021. Households that now shop online account for 74.4%, which has increased e-commerce consumers by 8.4% since 2017. As detailed by Kantar in its study, the remaining 26.6% of consumers are older people who commute to buy products themselves, as they prefer a personalised service. And just as the consumption model has changed, so has the payment model. Welcome to the era of virtual cards.

What are virtual cards? 

Virtual cards are more secure cards, and unlike conventional payment cards, they are completely virtual. They are exclusively used for virtual purchases, but with the possibility to be used in physical establishments if you have the card linked to a wallet on your smartphone. The virtual card has a number, an expiry date, and a control number, as Rankia details. The financial website also states that the security controls of virtual cards are very varied. Some banks have a dynamic code that changes with each purchase, while others allow very few purchases to be made, and if there is money left on the card, this money is automatically returned to the account from which the card was recharged. Each customer is free to make a new virtual card whenever they need it, it’s as simple as that.

How was the virtual card born?

Since the world’s first payment card from Diners Club in 1950, the world of payment cards has come a long way, from the arrival of credit cards in Spain in the 1960s to virtual cards, according to Finanzas. A website specialising in finance reminds us that virtual cards were born with the arrival of mobile telephony, with the payment systems known as “wallets”.

How are they regulated?

The European regulation PSD2, the new European regulation on electronic payment services, came into force in September 2018, with the aim of reinforcing security for consumers with e-commerce payment systems. With this regulation, which has been in force for three years now, it can be said that something is changing in the way we make payments. In short, we can say that virtual cards are here to stay as another means of payment.

 

11Onze is the community fintech of Catalonia. Open an account by downloading the app El Canut for Android or iOS and join the revolution!

If you liked this article, we recommend:

Finances

How to protect ourselves from online scams

4 min read

Every year, there are millions of people around the...

Economy

Fintech, the future of banking is now

3 min read

More and more companies are merging technology...

Technology

Virtual cards for secure purchases

4 min read

Virtual cards are the main method of online payment...



A UNHCR report on education and its importance in social inclusion shows that one of the most significant challenges facing refugee children is unequal access to education.

 

A common denominator of refugee crises is that, regardless of location, when families are forced to leave their homes, the stability of children’s lives is inevitably disrupted. Likewise, loss of security, dignity and access to education are among the most immediate consequences affecting displaced people.

A report was not necessary to understand the importance of ensuring that refugee children and youth have access to the education system, but it is important to know the numbers beyond the generic slogans that blur the problem. Specifically, to be able to provide the resources and tools needed to address the issues.

 

Talent is universal, education is not

The UNHCR report draws on data from more than 40 countries around the world and emphasises that, even before the pandemic, the proportion of 10-year-olds who cannot read or understand simple text was estimated at 57% in low- and middle-income countries, and 86% in sub-Saharan Africa, where millions of refugees live: “Poor quality education and lack of access to schools and colleges affect hundreds of millions of children. But there is no doubt that young refugees suffer most acutely”.

Data indicates how refugee children are falling behind non-refugee children in terms of access to quality education. The enrolment rate in kindergartens is only 42%, while primary education stands at 68%. Secondary education is significantly lower, at 37%, and superior education is only 6%, well below world levels, especially in richer countries.

By promoting an inclusive vision of education we can work towards a reality where all children, including refugees, have the same opportunities to grow, learn and aspire to a better future. This requires a collective solidarity effort that involves the participation of the whole of society, regardless of borders.

 

11Onze Rolls Up its Sleeves

From 11Onze we have decided to roll up our sleeves, and we want to build 50 Shelter Schools for the children of Northern Syria so that we can help 1,750 children. To make this possible, we need 100,000 euros that 11Onze Rolls Up its Sleeves will send to Better Shelter to carry out the action on the ground. Can we count on you?

I want to roll up my sleeves!

If you liked this article, we recommend:

Community

Refuge Schools: safety and dignity

3 min read

In 11Onze Podcast we spoke with Miguel Acebrón García...

Community

End of the school year: a call for solidarity

3 min read

The school year is coming to an end and the holidays...

Culture

Refugee children’s right to education

3 min read

According to UNHCR, 50% of refugee children are...



We integrate software that allows you to sign documents electronically in a few seconds from your mobile. We comply with the most demanding security regulations with industry-leading software.

 

At 11Onze we try to continually apply improvements to simplify the processes that involve our clients. For this reason, we provide ourselves with management tools that allow us to be more agile and faster with the idea of managing a large volume of information. Now we are going one step further to achieve an even closer, more reliable and efficient relationship with our users.

As Oriol Garcia Farré, from the Compliance department, explains, the new technology offers “the ability to digitally sign documents from a mobile or fixed device, through email, SMS or WhatsApp and from anywhere in the world. It is a process that takes seconds to execute.”

 

Firstly, security

The security of the new system implemented in 11Onze allows it to incorporate the most modern verification systems that currently exist in the market, such as the simple electronic signature (SES) for everyday transactions, the advanced electronic signature (AES) for high-value transactions and the qualified electronic signature (QES) for highly regulated transactions. And all of this is supported by an internal cloud that provides a much more secure way of working than traditional paper storage, while promoting document flexibility.

All of this allows 11Onze to exponentially increase security, even if the contents of the documents become more complex. We are also aware that to operate in certain parts of the world, a high level of identification is required when an agreement is digitally signed, as it must have completely legal value. In this sense, the software adds greater legal robustness to all our digital signature processes, given that the technology is based on Regulation (EU) No. 910/2014 of the European Parliament and of the Council, of July 23, 2014 and Spanish Law 6/2020 of November 11 on Electronic Trust Services. In this way, the application of the MIFID II regulations is facilitated to reinforce the protection of our clients against any financial product.

“At 11Onze, we are at the technological forefront in terms of digital signatures.”

At the forefront of the sector

11Onze, with this move, once again places itself at the forefront of the financial sector in terms of innovation and security. According to Oriol Garcia Farré “we are at the forefront of the use of this technology regarding digital signatures, and we are part of a select group of technology companies that use it stably. As for the banking world in the Spanish State, only Banco Santander in the United Kingdom uses it, but only for its digital division.”

In this way, 11Onze is prepared to send and sign thousands of documents with maximum guarantees, allowing sustainable growth of the company. At a time when it is increasingly important to be able to ensure documentary veracity, at 11Onze we take on the challenge of being agile, reliable, and transparent despite the legal complexity of certain documents. This move allows the management of 11Onze products, such as Preciosos 11Onze or any other that involves documentation, to be faster and easier. Furthermore, one of the new features is that the documents themselves can include a payment gateway, if necessary.

In 11Onze’s Compliance department, there is a conviction that the integration of this new technology allows the company to take steps forward that customers will immediately notice. “It allows us to gain agility, since it dramatically facilitates the procedures for our clients and from anywhere in the world”, says Oriol Garcia Farré.

If you want to discover the best option to protect your savings, enter Preciosos 11Onze. We will help you buy at the best price the safe-haven asset par excellence: physical gold.

If you liked this article, we recommend you read:

Technology

DMA & DSA: regulating digital markets and services

4 min read

On 17 February, the European Union will start implementing...

Invest

The virtues of gold as an investment asset

3 min read

How can you preserve the value of your investments...

Community

How will jobs evolve over the next few years?

3 min read

Technology, digitalisation, sustainability and the holistic...



Toni Mata, Content Director, Oriol Tafanell, Financial Director, and Càrol Rafales, from the 11Onze Product Team, present Gold Seed. The latest product that 11Onze has made available to its community so that you can generate profits by buying and selling the precious metal par excellence!

 

Since in order to have a harvest, you must first sow, at Preciosos 11Onze we offer you Gold Seed, a new product designed to make your savings grow in times of uncertainty. As Oriol Tafanell explains, “given the turbulence of the current economic situation, everyone has become frightened, the stock markets have fallen, but gold continues to rise in value”.

Preciosos 11Onze has been working for more than a year with a manager specialising in the sale and purchase of precious metals. The idea is very simple, “it consists of grouping several people interested in participating in a collective purchase of gold with the aim of obtaining a capital gain from the purchase and sale of this gold“, explains Càrol Rafales. For 12 months, your gold will be sold at the best times of the market to make a profit, and at the end of the year, we will see how the harvest has gone!

Staggered consolidations

The minimum investment is €4.000 and during the contracted period there will be quarterly reports to see the evolution of the investment you have made in this service. The aim of the purchases and sales is to achieve staggered consolidations of 2%. That is to say, “from the start of the contract, if the manager achieves a capital gain with the metal acquired, equal to or greater than 2%, this capital gain is consolidated,” says Rafales.

Making it clear that past gains do not guarantee future gains, the good performance of gold in periods of instability has been confirmed over the last few years. The product on which Gold Seed is based has generated returns well above those achieved with Spanish investment funds and has counteracted inflation, solidifying gold as the safe-haven asset par excellence.

You will find all the information about Gold Seed at Preciosos 11Onze.

If you liked this article, we recommend it:

11Onze

Precious 11Onze presents Gold Seed!

2 min read

Make a profit by buying and selling the king metal.

Gold seed

1 min read

To have a harvest, you must first sow. At 11Onze we offer a new product...

Preciosos 11Onze

1 min read

11Onze offers its community a tool to combat inflation...



Les escoles refugi sorgides de la col·laboració entre Better Shelter i 11Onze s’Arremanga tenen com a objectiu garantir que els nens afectats pels devastadors terratrèmols del nord de Síria no perdin l’accés a l’educació. Parlem amb Antony Merjan,  Administrador d’Associacions de Better Shelter, perquè ens expliqui la feina que s’està fent sobre el terreny.

 

L’accés a l’educació exerceix un paper fonamental per als nens de les comunitats afectades per catàstrofes naturals o conflictes armats. És precisament per aquest motiu que 11Onze s’ha associat amb Better Shelter, una associació humanitària sense ànim de lucre, amb l’objectiu de recaptar 100.000 euros per a construir 50 escoles refugi per tal de garantir que les famílies desplaçades pel conflicte armat i els devastadors terratrèmols del nord de Síria tinguin un símil de la normalitat perduda a través de l’educació escolar.

En aquesta conversa d’11Onze pòdcast parlem amb Antony Merjan, Administrador d’Associacions de Better Shelter per a l’Orient Mitjà, Nord d’Àfrica i Àsia, dels reptes a què s’enfronten els nens refugiats, de la importància de col·laborar amb socis locals i del procés que se segueix des del moment de la recaptació d’una donació fins que es construeix una escola refugi a Síria.

Molt més que una simple escola

Actualment, hi ha uns 14 milions de refugiats sirians, 6 milions dels quals segueixen al país, i més de dos terços dels desplaçats són dones i nens. Per tant, és d’una importància cabdal capacitar a aquestes famílies amb les eines perquè els seus fills puguin accedir a l’educació necessària per assegurar-se un futur.

Però la funció de les escoles refugi no és només educar els infants, sinó proporcionar un espai segur i digne enmig d’una crisi humanitària. Com explica Antony Merjan “proporcionar-los educació no es tracta només sobre el que estan aprenent, sinó que també és un espai on poden fer front a l’estrès i al trauma. Simplement, treure’ls de la normalitat, de la mala normalitat amb la qual es veuen obligats a viure”.

Així mateix, cal destacar la importància de construir escoles refugi que siguin prou resistents i estiguin fetes amb materials de qualitat perquè no siguin simples tendes de campanya temporals. En aquest sentit, les unitats de Better Shelter estan dissenyades per durar anys i pensades per un ús modular, de manera que, depenent de les necessitats, es puguin fer servir com a un hospital de campanya, una infraestructura comunitària, o el que calgui.

 

Col·laboració amb organitzacions locals

La feina que fa Better Shelter no seria possible sense l’ajuda de socis locals que actuen directament sobre el terreny. “No podríem fer res de la nostra feina sense la fantàstica xarxa local de socis que tenim”, apunta Merjan. Aquesta col·laboració també s’estén als projectes amb altres organitzacions com UNICEF o la fundació Watan, per establir campaments d’escoles refugi, i on Better Shelter ajuda en la preparació del terreny i muntatge dels refugis.

Per altra banda, l’organització fa un seguiment constant dels projectes per analitzar el seu impacte sobre el terreny i poder comunicar les novetats als seus socis donants. D’aquesta manera tenen la certesa que les contribucions es fan servir com cal i que són rebudes directament per les persones necessitades, sense que es perdi res pel camí.

Vull arremangar-me!

Si t'ha agradat aquest article, et recomanem:

Comunitat

Escoles Refugi: seguretat i dignitat

4 min read

A 11Onze Podcast parlem amb Miguel Acebrón García...

Cultura

Dret a l’educació: els infants refugiats el tenen?

3 min read

El 50% de les criatures refugiades no poden fer...

Comunitat

Escoles refugi: espais segurs per als menors

4 min read

Els conflictes armats i les catàstrofes naturals tenen...



Telegram is much more than an instant messaging application, and it has tools that allow you to open groups and public communication channels for anyone who wants to follow them. We explain how it works and give you a brief tutorial on how to use the application.

 

What is Telegram?

It is an instant messaging application, free and open source, which can be used on multiple platforms synchronised through the Telegram cloud, and which allows voice calls, video calls, sending and receiving messages over the internet, as well as creating groups of up to 200,000 members and channels to broadcast to unlimited audiences.

 

Focused on security

Unlike other messaging applications, Telegram, since its inception, has focused on the security and privacy of its users. It offers the possibility of starting end-to-end encrypted “secret chats”, deleting messages with no time limit, biometric and PIN protection for our chats, incognito mode keyboard, and the alternative of entering a chat without the obligation of having an account linked to a phone number.

Telegram channels

One of the most powerful features that Telegram offers is the ability to create public or private Telegram channels. While messaging groups have a limited number of members, and everyone can participate in the conversation, channels are mainly unidirectional and with no limit to the number of members. There are two typologies:

  • Private channels: these are closed communities that can only be accessed by invitation from the channel owner and administrator, through a link.
  • Public channels: They all have a username and anyone can find them by doing a search on Telegram and join them.

These public channels facilitate the creation of user communities based on communication and content of common interest. A tailor-made complement to the 11Onze community established from La Plaça.

 

How to find and join a Telegram channel?

  • Once you have downloaded the application, and to find or check if there is a channel with the content you are interested in, simply enter what you are looking for in Telegram‘s integrated search engine, the icon with the magnifying glass, and you will see a list with all the results so that you can choose the most suitable one. You’ll know it’s a channel because the number of subscribers will appear below it.
  • Click on any of the search results, and you will enter the channel. At the bottom, there is a button with the option: “Add”. Just click on it, and you will be part of the channel.
  • To receive notifications every time you post on the channel, you have to go to Settings, in the wheel at the bottom right of the screen. Under “Sounds and notifications” make sure you have the “Channel notifications” option activated.

Do you want to be the first to receive the latest news about 11Onze? Click here to subscribe to our Telegram channel

If you liked this article, we recommend you read:

11Onze

The 11Onze wiki bank

3 min read

When we think of banks, we immediately think of large companies and institutions with

Press

“‘La Plaça’ Attracts Over 10,000 Members”

1 min read

Fintech & Finance News explains how ‘La Plaça’, 11Onze’s social

11Onze

Get to know the pillars of 11Onze

3 min read

Do you want to know how 11Onze will work?



The low yields offered by traditional bank deposits are pushing people to look for safe alternatives to avoid money depreciation. 11Onze offers savings ranging from small to large amounts, always with very low risk.

 

One of 11Onze’s objectives is to help its community protect their savings and purchasing power. This means trying to get a return on their money, and doing it safely. Currently, 11Onze accumulates proposals that allow you to save from €225 to more than €125,000. We review all the options in a conversation with 11Onze’s product manager, Isaac Sène. In this podcast, we discover not only the current products, but also the three new products that will be made available to the community.

Savings options for everyone

Which savings option suits you best? Choose one based on the minimum capital.

  • €222. This is the cost of the Vienna Philharmonic gold coins.
  • €3.000. Buy gold from Preciosos 11Onze. Bullion in custody or at home. In the first year of pooled purchases, Preciosos 11Onze has proven that it is able to protect savings from inflation.
  • €3.000. Investing in 11Onze, as El Gran Salt investors did.
  • €4.000. Available soon. A new product linked to gold. Discover it by listening to the podcast.
  • €25.000. Available soon. New product from an external supplier. All the information soon on 11Onze Recommends. Find out more clues about this fund with the principal sum insured and returns above inflation.
  • €125.000. On 11Onze Recommends, you can find all the information about Guaranteed Funds. Yields between 2.5% and 165%.

Security at the core

Saving with 11Onze is always based on one maxim: they must be safe propositions. That is why we have made a firm commitment to gold, because of its historical role as a store of value. The fact that money cannot be lost is also clear with the products selected by 11Onze Recommends, funds that guarantee the capital invested. But the clearest proof that security is at the core is provided by El Canut. The 11Onze current account does not work like a normal bank account, which can use the money from the deposits for its expenses. The 11Onze accounts are off-balance sheet, because that is how Electronic Money Institutions (EMI) are regulated. In addition, there is an insurance that guarantees 100% of the amount in the accounts.

What else will 11Onze bring to your community in the near future? The product manager, Isaac Sène, warns that “the next step will be crypto”. Of course, as always, with security at its core.

 

If you want to discover the best option to protect your savings, enter Preciosos 11Onze. We will help you buy at the best price the safe-haven asset par excellence: physical gold.

If you liked this article, we recommend you read:

Economy

11Onze’s gold corrects inflation

2 min read

Preciosos 11Onze gold has appreciated by 9.5%.

Invest

Performance of guaranteed funds

2 min read

Which guaranteed funds offer the best performance?

11Onze

Banks are paying

3 min read

We talk about the Payment Protection Insurance (PPI) scandal.



UK financial entities have been fined billions of euros for abusive practices. We spoke to Farhaan Mir, CFO of 11Onze, about the Payment Protection Insurance (PPI) scandal.

 

The Payment Protection Insurance (PPI) scandal concerned the mis-selling of insurance policies, and it became known as Britain’s costliest consumer scandal. It emerged in the United Kingdom in the early 2000s, when banks and other financial institutions were found to have mis-sold PPI policies to millions of customers, often without their knowledge or consent, opening the floodgates to 60 billion euros of compensation claims.

The insurance policies were intended to cover loan and credit card payments in the event of unemployment, illness, or death, but many customers were sold policies that they were unlikely to be able to claim on, or that duplicated existing insurance coverage. In addition, payments to customers involved commissions in excess of 50%, thus preventing customers from actually benefiting from the policies’ coverages.

What were the main reasons why PPI policies were mis-sold to consumers?

In call centers and high pressure sales environments, people were pushing to get their commissions upfront. That’s the game banks played because the more loans they sold, the more profit they made. When you’re selling an insurance policy, a regulated product, you have to follow a process. In this case, the high profits and the commissions paid to the sales teams, which in some cases were paid three years in advance, were more important than applying the correct process.

How have financial institutions been held accountable for their role in the scandal?

It started with the Financial Ombudsman, when the non-disclosure ended, there was a complaint. As soon as that complaint went in, the banks had to start putting money aside for the penalties they needed to pay. They were aware they could not fight this in court. Basically, they were held accountable in the courts for the amount of PPI they miss-sold, and they’ve been held responsible for the amount of money that needs to be repaid. 

What steps have been taken to ensure that similar mis-selling does not occur in the future?

Firstly, there were penalties for the banks. Second of all, when you buy a regulated product from a financial institution they have to tell you whether you’re eligible, or in other words, that you meet the suitability requirements. Basically, parties selling insurance have to make sure they’re selling you the right product, the right way, otherwise they risk being fined. Also, The Financial Services Authority (FSA) banned sales of single-premium payment protection insurance (PPI) alongside personal loans.

What’s the process of making a claim and how long does it usually take?

You can write to the bank directly and submit the documents yourself, or you can get a private lawyer to do it for you. If you believe you have a valid claim and the bank rejects it, then you can appeal. And if you think the bank is not being fair, you can report the bank to the Financial Ombudsman. So far, these claims are taking from 6 to 8 months.

 

If you want to find out how to get returns on your savings with a social justice product, 11Onze recommends Litigation Funding.

If you liked this article, we recommend:

Economy

The never-ending fight against bank abuses

3 min read

Financial institutions have a long history of unethical and illegal

11Onze

Defend yourself against financial abuse

1 min read

11Onze Podcast launches a series of chapters to find out all

Economy

Fines for banks that ignore their customers

3 min read

The government’s planned Financial Customer Ombudsman



The best gift of the festive season comes from 11Onze, and the procedure for buying it is very simple. We explain how to do it in a podcast!

 

If you want to give a present for tomorrow’s future that won’t lose its value, the best option is gold. 

In this conversation with Càrol Rafales and Coral Santacruz, product managers at 11Onze, they explain the procedure for purchasing the Krugerrand and Britannia coins that we offered last year, the same process you have to follow to buy the Vienna Philharmonic coin that we have available this year.

If you would like more information about buying gold coins for tomorrow’s future, you can fill in this form and an 11Onze agent will contact you. “Once everything is done, payment can be made directly by credit card,” explains Rafales. The customer can choose the Vienna Philharmonic coin (€225) and, immediately afterwards, will start preparing the shipment.

All the information about the history of this mythical coin can be found here. All the information about the history of these mythical coins can be found here. Shipping costs €9.99, except for El Canut users, who get free shipping.

 

What will we receive at home?

A few days later you will receive the 11Onze Christmas card for tomorrow’s future, the gold coins and a gold voucher for each final recipient. “The gold voucher is personalised with the value of the purchase, the name of the buyer and for whom it is for”, says Art Director Laia Gubern. In this way, each child, grandchild or nephew, will have an exclusive gold voucher that confirms the purchase that has been made for him or her.

For tomorrow’s future is an exclusive 11Onze campaign designed to protect the future savings of the next generation. In the context of the depreciation of the euro due to inflation and competition from the dollar, with a growing distrust of fiat currencies, we had to find a way to give something away for the same purpose. If up to now we have been giving away money for tomorrow’s future, logic suggests that perhaps the best thing to do now is to give away gold.

 

With Preciosos 11Onze you can buy gold bars and Vienna Philharmonic gold coins. For what lies ahead, gold.

If you liked this news, we recommend:

11Onze

A gift for tomorrow’s future

3 min read

11Onze is launching the sale of gold coins as...

11Onze

History of the Britannia and Krugerrand coins

3 min read

Investment coins, also known as bullion coins, are...

Savings

Gold price forecast for 2024

3 min read

After a 2023 in which the value of the golden metal...



The Gold Raffle took place at 11 am in a live event and the winner was the number 12360501. How did the raffle go? What did the winners say when we called them? You can now watch the live broadcast of the raffl

 

At 10:57 the live broadcast of the Gold Raffle began. The raffle was carried out by entering all the valid numbers of new registrations in the CoolTabs application to choose a random entry. The winning number was 12360501, which corresponded to a new member: Jaume, who joined 11Onze recommended by Joan.

“Of course, we will celebrate!”

Jaume didn’t pick up the phone on the first try, but he did on the second one. Knowing that he was getting the gold coin and Joan the bullion, he assured us that “we’ll celebrate so much! Father Christmas has arrived! Immediately afterwards, 11Onze got in touch with Joan. We caught him having breakfast in a bar, and he promised to buy a round.

You can check how the Gold Raffle went because the whole process has been recorded. The campaign has generated 166 new memberships at 11Onze, of which 102 were valid for the Gold Raffle. Being part of 11Onze is one way to stay informed about the latest economic news, access exclusive products, and educate yourself financially. This time, it came with an extra reward.

If you liked this news, we recommend:

Savings

Gold price forecast for 2024

3 min read

After a 2023 in which the value of the golden metal...

11Onze

11Onze starts handing out gold coins

2 min read

The first Vienna Philharmonic coins with an exclusive...

11Onze

GOLD RAFFLE: just one week left to enter!

2 min read

On 21 December, 11Onze will raffle a gold bar and...



App Store Google Play