Bizum is a payment service provider launched in 2016 as an initiative of the Spanish banking system.
History
Constituted on 27 June 2016,[1] Bizum was jointly launched by 27 Spanish banking entities, including CaixaBank, BBVA, and Banco Sabadell. Originally an payment system between people (P2P), it later allowed transfers between people and e-commerce and institutions.[2] Bizum joined the European Mobile Payment Systems Association in 2022.[3]
In 2024, it had 27.6 million active users.[4] In 2024, Bizum also announced plans to launch Bizum Pay in 2025, allowing for NFC payments.