How does the payment method work?
Bizum's functionalities allow linkage (in a database or directory) between a user’s phone number, IBAN, and other relevant data such as ID number or name. The information in the directory enables immediate transfers using the user’s phone as a proxy. This solution, offered through banking apps, supports various payment use cases (selecting a payee from the address book for P2P, using QR codes or NFC for instant transfers at the POS, and others).
Target markets
Banks, merchants, non-profit organisations, and end-users
Contact details
informacion@bizum.es
Geographical presence
Europe
Standards and certifications
SCT Inst, PCI, PSD2, GDPR.
Reach
29 million users
Acceptance
90,000 merchants
Market share
- 99% of Spanish and Andorran Banks enrolled
- more than 50% of the Spanish population registered as users
- around 80% of the digital banking population uses Bizum
- 40% of domestic merchants accept Bizum payments online
Implementation requirements
Merchants need to have a commercial agreement with a Bizum acquiring bank.
Member of industry associations and/or initiatives
EuroPA (European Payments Alliance), EMPSA (European Mobile Payment Systems Association), Mobey Forum, Adigital (the Spanish Association for the Digital Economy), AMETIC (the representative association of the digital industry sector in Spain)
Payment methods type
E-wallet
Yes
Online banking payments
Yes
Domestic or regional scheme (multibank online banking e-payments)
Yes
Direct debit
No
BNPL (instalments offering)
No
Channels
Online
Yes
POS/in-store
Yes
Technology and payment capabilities
Integration technology
APIs
Integration support
PrestaShop, WooCommerce, Magento, osCommerce, OpenCart, VirtueMart, Zen Cart
Do you offer a developer portal?
Acquiring integration tools or resources depend on the type of integration (direct through an acquirer bank, via an e-business platform or an ecommerce plugin)
Do you provide sandboxes and a testing environment?
Acquiring integration tools or resources depend on the type of integration (direct through an acquirer bank, via an e-business platform or an ecommerce plugin)
What tooling do you provide for developers?
Acquiring integration tools or resources depend on the type of integration (direct through an acquirer bank, via an e-business platform or an ecommerce plugin)
Types of supported APIs\API standard supported
Acquiring integration tools or resources depend on the type of integration (direct through an acquirer bank, via an e-business platform or an ecommerce plugin)
Do you have a fallback mechanism for PSD2's API?
Acquiring integration tools or resources depend on the type of integration (direct through an acquirer bank, via an e-business platform or an ecommerce plugin)
Connected banks
Bizum is available on the user side at 39 banking brands (99% of FIs in Spain and Andorra): https://bizum.com/es/en/banks/. Find the list of acquirers here: https://bizum.com/es/en/online-shopping/
Speed
Instant/24x7 or instant on weekdays/business days, depending on the country
Conversion
Over 80%
Payment guarantee
Yes (as the rail used is SCT Inst)
Consolidated data and reporting dashboard
Acquiring integration tools or resources depend on the type of integration (direct through an acquirer bank, via an e-business platform or an ecommerce plugin)
Recurring payments
Yes
Settlement currencies
Yes, EUR
Processing currencies
Yes, EUR
Currency available for customers
Yes, EUR
Automated and instant refund
Yes
Payout/disbursements
Yes
Reconciliation and reporting
Yes
Instant settlement
Yes
Client onboarding (KYC/KYB)
Yes (reuse of the existing banking KYC with the user's bank)
Fraud and risk management capabilities
Chargeback / Buyer protection
Dispute management process agreed by participants to offer similar capabilities to those applicable for online card payments.
Fraud and risk management partners
Redsys (infrastructure), Redsys and Cecabank (payment processors), Iberpay (ACH) as partners in charge of controlling fraud in Bizum's central infrastructure – and participant banks use their own tools and processes for the same purpose.
Partners
Technology partners
Redsys (infrastructure), Redsys and Cecabank (payment processors), Iberpay (ACH)
Distribution channels
Mobile banking apps of participant financial institutions
Business model and clients
Pricing model
Based on the information provided by Bizum to its participants
Future developments
Digital identity, recurrent payments (ecommerce), BNPL, POS NFC payments, interoperability for P2P with Italy and Portugal, Poland, Slovakia, and the Nordics (Norway, Denmark, Finland)
Main clients/references
https://bizum.com/es/en/banks/
Awards
-
José María Ricarte National Creativity Awards, brand/company category (2023)
-
Capital Awards, Best Fintech category (2020)
-
Rankia Awards, Best Fintech Product category (2017, 2019, 2020, 2021, 2022)
-
AMETIC Digital Skills Awards, Digital Skills for Everybody category (2022)
-
38th Aster Awards, Digital Innovation category
-
AEBrand Awards, Best Innovation Brand category (2020)
Transactions
Transaction volume
1,100 million transactions
Transaction value
EUR 56,672 million
