Bizum that is integrated in practically all the banks that operate in Spain. Its system has managed to improve by simplifying collections and payments, since you only need to link the phone number through the app of one of the participating banks and with it send, receive and request money. But also, Bizum-eCommerce It already allows you to make payments in electronic stores.
Bizum: the system with which you can send and request money for free and instantly
Bizum’s money transfer system between individuals is a great alternative to bank transfers, since allows the money to arrive at the momentregardless of the entity from which you make the transaction.
Initially, Bizum was compatible with 15 banks, but over time more and more have joined to form 26 banks that comprise it, the main Spanish financial entities. So far Bizum has more than 4 million users who have made more than 36 million transactions for approximately 1,500 million eurosand now Bizum eCommerce allows you to make payments for your purchases online
Among the eCommerce in which you can already use its simple payment system are Destinia, LogiTravel, Iberdrola, and Mammoth, among others, and will soon be available at Alsa, Yelmo Cines, Energy Sistem, ActivaClub and Balearia. Little by little, more online stores will be integrated in which it can be used.
How you can use Bizum eCommerce
For an eshopper, paying with Bizum eCommerce is really easy. The client must only choose Bizum as payment method in any of the associated online stores. The system will request your telephone number and the Bizum Password, a 4-digit code similar to a card PIN that you can create and modify in your bank’s app in the Bizum section.
Once these data have been entered, each bank will validate the operation with a text message or the stipulated form, that is, a one-time password (OTP) will be sent to validate the purchase, and that’s it! The customer will automatically receive confirmation of their payment.
Advantages of integrating Bizum eCommerce in your online store
Security
Payment is made in a totally secure manner through the same infrastructure where instant transactions are currently processed with Bizum, an infrastructure that has the endorsement of large banks with years of experience developing and improving its systems to detect any type of fraud or incident that may be caused in any of its payment methods
Agility
Bizum eCommerce follows the same instant payment scheme as with bizum transfers between individuals and that, of course, our users like so much. This means that eCommerces will have the option to have each payment instantly directly in your account or group them to receive them all at once.
Adaptability
Bizum does not have a single service proposal with a fixed rate and can be contracted with any of its member banks. This variety allows you adapt to each trade according to its volume, operations, sector…
Notoriety
Online stores that incorporate Bizum as a means of payment will have presence on your website, visited by more than 40,000 users monthly. Additionally, the performance of each of the banks attached to Bizum allows reaching a practically global group. Banks commercially support and encourage Bizum and, from now on, they will also do so with its new online shopping service.
Easy to use
From the point of view of online stores, the new Bizum eCommerce is presented as a transparent and easy-to-use payment system, both for consumers and for businesses, since it allows payments to be made in half the time compared to what is required when buying with credit cards, in addition to a case of return, instead of processing via credit card, the client’s account will be used directly.
Users value very positively that during the purchase process they are offered various payment methods, so adding this option will improve the customer experience and increase conversions.
In addition, Bizum users are the most active in the use of digital channels and above all, are the ones who consume the most via online, according to financial entities. In fact, in surveys carried out by Bizum, 60% of its users have asked to pay with this method in online commerce, so you should not miss the opportunity to integrate it into your eCommerce.
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