Bizum

Bizum

Bizum is Spain's instant payment service, set up jointly by the country's big banks and integrated into their apps.

About Bizum

Bizum, S.L., based in Madrid, runs Spain's instant payment service. It was founded on 27 June 2016 by the country's leading banks, and most Spanish banks have built it straight into their apps. According to Bizum, the mark of 25 million users has been passed, more than half the population. Payment uses the recipient's phone number; the money is there within seconds. Individuals send or request money right in the banking app, and payments in online shops are also provided. PayPal as well as Visa, Mastercard and American Express are named as counterparts.

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