Bizum is a service that lets people send and receive money. It emphasizes speed, security, and ease of use. Since its launch in 2016, it has continuously expanded and introduced new features, reaching 28.8 million users by April 2025. Meanwhile, data from the Bank of Spain shows that 50.35% of bank transfer payments in Spain are made using Bizum.

What’s in this article?

• What is Bizum?
  
• How does Bizum work?
  
• How can businesses implement Bizum?
  
• Advantages of accepting Bizum in your business
  
• FAQs about Bizum
  

What is Bizum?

Bizum is a payment option built into online banking apps that lets individuals move funds instantly. Because cash is widely used in Spain and smartphones are common, Spanish banks, along with several payment groups and networks—such as Iberpay and Redsys—have developed this platform to simplify instant transfers between individuals.

Bizum introduced its person-to-person (P2P) payment service in October 2016 and, after strong success, rapidly broadened its scope. In 2019, it began supporting businesses, and ongoing development has brought in a variety of new features:

• Payments for online shops
  
• Donations for nongovernmental organizations (NGOs)
  
• Tax payments, such as value-added tax (VAT)
  
• Bill settlement by financial institution
  
• Business payments to customers or suppliers
  
• Digital identification
  

Today, the system is used not only by individuals but also by a wide range of professionals and organizations, including freelancers, Spanish-based firms, and cross-border businesses selling their goods and services in Spain. Amazon, for example, has been offering Bizum as a payment method to its Spanish shoppers since July 2024.

How does Bizum work?

As mentioned earlier, Bizum enables people to make various transactions quickly, simply, and securely. The process changes depending on the type of transaction. In Spain, people primarily use this platform to pay for web purchases, in-store payments, and to transfer money to others.

Using Bizum in online shops

• The customer selects Bizum as their payment method when checking out at the store.
  
• They input their phone number, which works the same way as an IBAN in regular bank transfers.
  
• They receive a notification from their bank’s app requesting them to confirm the charge.
  
• They review the total amount and, if everything looks accurate, the customer approves the transaction.
  
• The money is immediately taken from the linked balance, and a payment confirmation appears on the online store’s website.
  

Using Bizum for in-store payments

Bizum payments in physical stores can follow three different methods:

• Payment request: Merchants enter the sale amount and the customer's phone number on their online banking app, who then receives a notification on their device phone to authorize the transaction.
  
• QR code: Merchants generate a QR code from their online banking app for the customer to scan on their phone and approve the charge.
  
• Compatible card readers: In 2025, BBVA was the first bank to offer terminals that support contactless payments with Bizum.
  

Sending money between individuals

• The person sending the money opens their banking app and navigates to Bizum.
  
• Next, they enter the recipient’s phone number or select it from their contacts.
  
• The request is sent to the bank’s system, which automatically runs two checks in less than 10 seconds:
  
  • It confirms the identities of the sender and the recipient. Before finalizing the transfer, the sender can view the first name and initials of the person linked to the phone number’s balance.
    
  • It verifies that the sender’s balance has enough funds.
    
• The transaction is processed, and the clearing, settlement, and receipt delivery occur instantly.
  
• Both the sender and the recipient immediately see their account balances updated with the moved amount.
  

How can businesses implement Bizum?

First, check if your business bank account includes this option for merchants. If it does, review the terms and conditions provided by your financial institution for the business version of Bizum. Then, to accept Bizum payments in physical or online stores, you must add it to your checkout system. This process will vary depending on whether your outlet is physical or digital.

Online businesses

To accept payments on an online shop in Spain and better meet your shoppers’ needs, you can simply add Bizum to your payment gateway.

Physical businesses

There are two ways to accept Bizum for in-person charges: using a card reader or without one. Until recently, it wasn’t compatible with these devices. However, in March 2025, BBVA became the first Spanish bank to integrate Bizum into its POS terminals.

If your card reader doesn’t support Bizum, you can send customers a payment link or a QR code. You can also request settlement through Bizum using your online banking app.

Advantages of accepting Bizum in your business

According to internal data collected by Bizum in 2024, more than 82,000 businesses have already implemented Bizum as a checkout option—that figure is likely to continue rising thanks to the many benefits it provides. Here are some of the key advantages:

• Cost savings: There are no card processing fees, so accepting payments with Bizum costs the same or potentially less than card purchases, depending on the terms set by each pay provider.
  
• Instant transactions: Bizum transactions are completed in under 10 seconds, preventing any delays in collecting funds.
  
• Improved cash flow management: Instant fund transfers help improve cash flow planning and make it easier to stay on top of tax duties, including quarterly VAT returns.
  
• Elimination of manual tasks: There’s no need to verify account numbers or confirm whether a transfer was sent or received the next day, saving time and resources for the accounting team.
  
• Greater customer satisfaction: This checkout option is favored by 38% of customers in Spain. Offering a popular pay method provides an incentive for more shoppers to complete their purchases. Data from Stripe shows that 86% of customers often abandon their shopping carts if they can’t use their preferred way to pay.
  
• Simple purchase process: With Bizum, customers can enter their phone number instead of their card, which they’re more likely to remember. This makes the buying process faster and cuts down the time needed to complete a transaction, which is important since 62% of shoppers say they abandon their purchase if it takes more than two minutes.
  

FAQs about Bizum

Is Bizum secure?

Yes, sending and receiving money with Bizum is a safe process. It is built into various Spanish banking apps, meaning that the bank handles both the authentication and instant transfer sequences. Bizum has the same security level as the online banking app it’s integrated with.

Which banks are compatible with Bizum?

As of July 2025, it has 40 banking partners. Nearly all Spanish financial institutions include Bizum in their mobile applications, ranging from major ones such as Santander and BBVA to regional ones includingBanca Pueyo and CaixaGuissona. You can find the complete list of compatible banks on the official Bizum website.

What requirements must a business meet to accept Bizum?

To accept Bizum payments in your business, you need a Spanish bank account and to sign up for its business service.

Can immediate transfers on Bizum be canceled?

No, immediate transfers cannot be canceled through this approach. If you accidentally send money to a customer or supplier, the only way to recover it is to contact your financial institution or the recipient. That said, recipients can still reject payment requests.

Is Bizum more secure than a bank transfer?

Bizum and bank transfers offer the same level of technical security. Both pay methods utilize the same safety features as banking apps and adhere to European Directive 2015/2366, which governs electronic pay services. Bizum acts exclusively as an intermediary layer and doesn’t add extra protection. Nevertheless, since you don’t have to share your financial details, the risk of leaking sensitive information is lower.

What is “reverse Bizum”?

Scammers use “reverse Bizum” to trick victims into believing they’re receiving a payment.

They often reach out to potential targets claiming they want to buy an item on a P2P marketplace and offer to pay in advance via Bizum. They then tell the target to check the notification on their phone to authorize the payment to be received. However, there’s no such thing as “authorizing an incoming payment” on Bizum—it’s a request to send money. Authorizing the transaction enables scammers to withdraw those funds directly from the victim’s account.

Please note that Bizum will never ask you to confirm receipt of money—only to approve sending it. If someone asks you to authorize a Bizum payment you’re supposedly receiving, it’s likely fraudulent.

Can businesses refund instant Bizum transfers to customers?

Yes, you can refund a Bizum transfer directly through the platform. When customers exercise their right of withdrawal, businesses can reimburse the amount paid through Bizum, or issue a partial or higher refund. In any case, the reimbursement must include the original transaction reference so that the entire process can be tracked, as required by Spain’s anti-fraud law.