As the use of cash is being lost, there are fewer and fewer services that do not accept payment by card, and today the vast majority of transactions made in the world are virtual. . The arrival of Bizum in Spain greatly revolutionized the situation, since now users could make small transfers instantly.
Whether when you go out to dinner or have a drink with friends, to give your child’s allowance or even in many places to pay for a haircut or similar, we Spaniards use Bizum. This service, which has been active since 2016 thanks to the collaboration of up to 34 banking entities that operate in our country, is an instant payment system that requires telephone numbers to function.
The key to this is that it does not require account numbers, and It allows you to send and receive money by making movements from mobile to mobile. As we said, Bizum has become a tool used daily by millions of Spaniards, which requires that the platform be updated and cover the new needs that arise among users.
And as they have reported through a statement issued this week, a very important change for the app, because this week The first test operations have been successfully carried out with MB Way in Portugal and Bancomat in Italy. “There is interoperability between the services and the first instant cross-border payment transactions have already been carried out,” you can read about some tests that were demonstrated within the ‘Web Summit’.
This is a very relevant fact for Bizum, since It is the first time that it offers the service for cross-border money movements. This project is expected to be available starting in 2025, initially in Spain, Andorra, Italy and Portugal, but with the aim of be able to expand throughout Europe to be able to reach other interested markets and solutions.
#important #change #Bizum
