A new international payment system says it’s introduced a process “to bring security and certainty to Spanish real estate transactions.’
Redpin says its new Redpin Payments system gives Spanish real estate professionals complete control over all transactions through one online dashboard while protecting client funds with bank-level security. The platform claims to eliminate hours of bank related tasks per transaction, reduces completion day scrambles, and protects against the email-based fraud that is suggests “threatens four out of five Spanish property professionals.”
It is launching first in Spain, where many property purchases are still handled manually and one in five involve international buyers. The platform will roll out to additional markets later this year.
Redpin claims that Spanish government data shows international buyers are 32% more likely to be targeted for cybercrime, with real estate fraud attempts increasing 43% during peak foreign buying seasons. Wire fraud and online scams are growing in prevalence and disproportionately affect older customers.
Many European jurisdictions still operate under legacy regulatory regimes for property transactions, often requiring physical paperwork, wet signatures, and face-to-face identity verification. Redpin Payments says it enables Spanish solicitors to reclaim hours from each transaction while providing enhanced security and cost savings to their clients.
A spokesperson says: “We’ve built Redpin Payments in partnership with Spanish real estate professionals who understand the daily realities of managing international transactions. Rather than forcing solicitors to abandon proven workflows, we’ve created a platform that enhances their existing systems and processes.
“Everybody wants to cut risk and maximise the time they can spend developing their businesses, and we look forward to rolling out our first product in our territories over the coming months.”
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