The way of paying in all types of businesses has changed substantially over recent years. Cash is becoming less common, and we are migrating towards digital platforms or mobile payment. In addition, Bizum is also playing a fundamental role here.
Surely most of you, both in commercial and more personal environments, have used this immediate payment platform on some occasion. Among its many advantages, it is worth highlighting that we can make immediate money transactions through our mobile phone.
Furthermore, all this without the need to specify bank accounts, we just have to associate our mobile number with Bizum. This way we can make payments in both physical and online stores, or send money directly to our friends and family. The truth is that after its arrival last year 2016, this payment platform has revolutionized the commercial sector in many ways.
Obviously, the different banking entities in our country that have associated with it have also played a fundamental role here. And we are talking about our country because, indeed, throughout these 8 years the platform has only worked in the national territory, but it seems that things are going to change shortly. First of all, we will tell you that to date a total of 34 banking entities have partnered with this instant payment method so that their clients can benefit from it.
However, as the platform’s top officials have recently stated, within a few months they will introduce an important change. This will directly affect a good part of regular Bizum users, as we tell you now.
Bizum will cross the Spanish borders shortly
And as we told you, this payment service currently only works in the national territory, something that many were unaware of. The truth is that in other countries they continue to use other methods such as the PayPal account to make payments over the Internet between users, for example.
At this point it is worth knowing that the platform is carrying out tests with foreign banks, specifically belonging to Portugal and Italy. They inform us that various tests have now been carried out successfully through the banking entities MB Way in Portugal and Bancomat in Italy. This means that they have carried out operations crossing the Spanish border, and it has been a complete success.
It is worth knowing that this is the first time that Bizum has been used outside of our country, and those responsible for the payment platform want to extend it to all of Europe. In this way, as they inform us, initially and throughout next year 2025 they plan to offer the service in Spain, of course, in addition to Andorra, Italy and Portugal.
At the same time, we must take into consideration that this is nothing more than a first step on its path to extending throughout the entire European Union in the near future.
