Bizum now allows payments in physical stores throughout Spain
The popular mobile payment system Bizum has taken a significant step in its expansion. From now on, its 20 million users in Spain will be able to use this tool not only to send money between individuals, but also to make purchases at physical establishments.
This new functionality is possible thanks to a major technological update. Currently, the system is already operational in 75% of bank terminals (card readers) across the country, which makes it easy for a vast majority of businesses to accept this payment method without the need for major changes to their equipment.
The process for paying in a store will be simple and similar to the one already used by other banking applications. Customers will only need to have their bank's application installed and activate the payment option for merchants, thus allowing them to complete the transaction quickly and securely via their mobile phone.
With this measure, Bizum seeks to consolidate itself as a real alternative to traditional bank cards and cash. The company expects that, in the coming months, the percentage of compatible terminals will continue to increase until it covers all businesses in Spain.