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Santander and ING are two of the 25+ banks that are partnered with Bizum, which is a specialized mobile payment method for Spanish users.
Led by director-general Ángel Nigorra, Bizum was established in 2016 as a joint-venture within the Spanish financial sector. Ultimately, Bizum is owned by 24 Spanish banks and is operated with the goal of pioneering innovation within the sector. In recent years, Bizum is seeing increased usage as a payment method among online casinos and other gambling sites.
Since launching, Bizum has established 26 partnerships with affiliated banks and financial institutions. As for customers, more than 11.8 million people are using Bizum across more than 4,200 online vendors. It only took one year for Bizum to attract more than one million users and, as of 2020, there were than 165 million transactions that combined for a total value of €8 billion.
With Bizum, users are given the ability to make payments directly from a smartphone. Users do not even have to install any software from Bizum – just the app that is provided by their bank. Any players who want to use Bizum can check on the website if their bank is a partner. Among the current options are BBVA, CaixaBank, Deutsche Bank, ING, Liber Bank, Sabadell, and Santander.
Any bank that is partnered with Bizum should support this payment option via the bank’s native app, which is likely available on Android or iOS. There should be an option to say that sending and receiving money via Bizum is possible. The website states that it will be possible to transfer money within 10 seconds and that transactions are made safe by the elite security standards of the Spanish banking network.
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Would you like to learn more? Visit the following link for more details and information: bizum.es.