At a time when all our data is stored in our pockets, concentrated on our mobile devices, it's no surprise that the possibility of digital payments has gained momentum to the point where they've begun to overtake physical cash. Online payments are here to stay, and Bizum is presented as the convenient, fast, and secure solution for making them with a single click. But how did it become so important? What is Bizum? Bizum is an instant mobile payment platform jointly promoted by Spanish banks. Unlike traditional bank transfer systems, Bizum allows users to send money instantly, from their mobile phone, without having to change banks, as it is interconnected with virtually all banks. Furthermore, having the support of Spanish banks and using their applications and security measures, without having to provide additional data, offers users security, so they don't have to fear potential fraud. How Bizum Works Simplicity and speed are the fundamental pillars of Bizum. This tool aims to enable its users to make payments quickly and without complications, since a quick and efficient process is twice as good. This is why Bizum appears as a complement within your bank's own app: you don't need to install any additional applications; you can simply activate it from there, easily and saving space on your phone, which is always helpful. Furthermore, you don't need to know the recipient's account number; you just need to include their mobile phone number (or select their contact from your phone's address book). The money will arrive at its destination in five seconds. How to Send Money with Bizum in Just Three Steps Have you already opened your bank's app and found Bizum? Great, you've got the first step covered. Time to move on to step two. Find the "Bizum" option, select "Send Money," and enter the mobile number or select one from your contacts. Specify the amount and set a subject to identify the payment. Once this is done, simply press "Send," and your money will reach the recipient in a matter of seconds. If this person doesn't have Bizum installed, they will receive an SMS message with instructions on how to receive the money.

Pay for your purchases or make donations to NGOs with Bizum To make your purchases, simply select Bizum as your payment method on the eCommerce website. Afterward, enter your phone number and Bizum PIN to complete your purchase. If, on the other hand, you want to contribute to an NGO, you should access your bank's app, go to the "Bizum" section, and select the "Make a donation" option. Then, enter the five-digit code that identifies the organization you want to donate, specify the amount you want to donate, and send the money. What is the limit for sending money with Bizum? There are both a maximum and minimum amount that Bizum allows you to send in each transaction to ensure the security of its users. Banks can also set any limits they deem necessary. The minimum amount per transaction is €0.50, while the maximum is €1,000. On the other hand, the number of payments a user can make per day is unlimited, but the same is not true for the amount of money they can send, with a maximum of €2,000 per day and a total of €5,000 per month. Regarding receiving Bizums, only 60 payment transactions can be received per month, and the maximum amount of money that can be received per day is €2,000. It is not possible to cancel a Bizum payment. If you wanted to cancel a payment while making a payment, this would not be possible, as Bizum is an instant payment tool. In these cases, we recommend either contacting the person to whom the money was sent to request a refund, or contacting your bank for information on how to proceed. What to do if Bizum fails If you encounter any problems while completing a transaction, you can rest assured that if Bizum doesn't notify you with an on-screen confirmation that the payment was successful, there's no risk that the transaction has been completed. If you still experience an error when attempting the process again, Bizum recommends contacting your bank or, if the problem persists, reporting it to Bizum through one of its social media platforms (Instagram, Facebook, or Twitter). This is the suggested modus operandi for any potential issues with the payment tool. The History of Bizum Bizum was launched in 2016 as a joint project within the framework of Spanish banking's digital innovation initiatives, a new payment service with which banks sought to expand their payment service offerings to their customers. The combined total of participating entities now represents a market share of over 98%. Although it began as a payment service between individuals, Bizum quickly adapted to the needs of its users. In 2017, it introduced the option to make donations to social organizations, and in 2019, it began allowing its use to make payments in e-commerce. At that time, the platform had 4 million users.

In 2020, it launched a QR code payment feature at more than 11,000 points of sale belonging to the State Lottery and Betting Service. By July 2021, Bizum achieved a 65% increase in users year-over-year, reaching 16.5 million. Subsequently, on April 20, 2022, this number had risen to 20 million users (+21.2%). In December 2023, it introduced an important new feature: its digital identifier. This simplifies and streamlines the registration and access process for online services, guaranteeing security for both merchants and users. BBVA, CaixaBank, and Santander were the first banks to implement it. Another significant milestone occurred in July 2024, when Bizum became available as a payment method on both the Amazon Spain website and app. In early 2025, the long-awaited interoperability with Italy's Bancomat Pay and Portugal's MB Way was announced, allowing users to make fast, secure, and instant cross-border mobile payments. The interconnection was gradually activated among participating banks. In Spain, Banco Santander, Abanca, and Openbank were the first to begin the rollout, while the remaining banks waited to deploy it throughout the year. Current figures and new objectives Since its launch, Bizum has continued to grow rapidly and has now become the leading mobile payment solution. By the end of 2024, 38 banking brands offered Bizum to more than 28.2 million people, who carried out an average of 3 million transactions per day, which translates to 35 Bizums per second. In 2024, more than 1.093 billion Bizums were spent on payments to friends or family, e-commerce purchases, donations or collections, and payments to State Lotteries and Betting. The volume associated with these transactions exceeded €44.206 billion. In e-commerce, Bizum reached 58 million purchases with an associated value of approximately €3.107 billion. In this area, 2024 also saw a record for Bizum purchases in a single day, with 400,000 purchases during Black Friday (November 29). Furthermore, the number of merchants offering Bizum as a payment method also grew substantially to 82,000 merchants, a 56% increase over the previous year, including merchants of all sizes and sectors, both national and international. Regarding the challenges on the horizon for Bizum, Ángel Nigorra stated, “Since its creation in 2016 as a result of the collaboration with Spanish banking institutions, Bizum has always planned to expand its operations by progressively incorporating new use cases that make users' daily lives easier. Next year is very important for us, as our institutions plan to roll out in-person payments and expand our horizons, both geographically and with new areas of operation, such as digital identification.” Bizum has revolutionized the way we make payments in Spain, becoming a benchmark for fast, secure, and easy digital payments. As the platform continues to evolve, expanding its functionality and interoperability with international systems, the future of mobile payments in Europe looks promising. With more than 28 million users and unstoppable growth, Bizum is demonstrating that digital transformation in finance is here to stay.