Although the option to pay something online with a card was implemented long ago, the idea of making a transfer was a process that until not long ago involved physically going to the bank. And that, moving only during the morning, was a nuisance.
Suddenly, the main banks began to admit the option of making online transfers, and this was a relief to avoid having to ask for free time at work and endure the eternal queues at the banks. But even so, the online transfer service had to evolve and reach the most used device: the smartphone.
Bizum, the app that is not an app
An application is something that is usually in digital stores. You look for it, download it and use it. But what happens if we put ‘Bizum’ in the search engine of the Google Play Store? The result is that we did not find a Bizum app as such, but we did find a lot of apps belonging to different banking entities.
This already gives you a clue of what Bizum is, which according to the definition of La Caixa for example is “a system compatible with the rest of Spanish banking entities that connects the bank accounts of customers linked to their mobile phone number. (It is not necessary to know any IBAN code to send the money) ”.
This service allows immediate payments between individuals just by having a mobile phone. Without pre-charges, safely and regardless of the bank with which the client operates. The Bizum system is not an independent app, but depending on the entity, it can be found within its general mobile application or within the wallet (bank’s digital portfolio) or electronic banking. Currently, in Spain there are almost thirty entities that use it, with recently expected additions such as the ING banking entity, which here explains to its users how to use Bizum.
- The Caixa
- Sabadell Bank
- Popular (Santander group)
- Rural Box
- Unicaja Bank
- Cajamar Cooperative Group
- Laboral Kutxa
- Rural Euro box
- Engineers Box
- Mediolanum Bank
- Deutsche Bank
- Imagin Bank
- Oficinadirecta.com (Grupo Santander)
- Pastor (Santander Group)