Bizum

About

Bizum is a Spanish mobile payment service, developed as a joint project of Spanish banks and operated by Bizum, S.L., a company owned by 24 banking institutions active in the Spanish market. It launched in 2016 as a person-to-person payment service and has since added online merchant payments, donations to NGOs and social entities through the bizum.help platform, a digital identifier for registering and logging in to websites and apps, and in-person NFC payments via Bizum Pay or banks' apps. Users pay with their phone number and validate the transaction in their bank's app, and funds are available instantly in the recipient's regular bank account. For businesses, the site lists online payments, integration of the digital identifier, payouts for promotions, prizes or rebates, and in-person collection.