Bizum can also be used to pay for your purchases online and even in some physical stores: this is how it works

Bizum's motto is "If you carry a mobile, you carry money" And the truth is that, up to a point, it is. In 2020, the payment system of Spanish banks registered 290 million operations, moving a volume of 14,000 million euros. There is nothing considering that, for now, its strength is operations between individuals. The average amount per transaction, in fact, stood at 48.3 euros last year.

So the objective of Bizum is to grow in the business field and make it known that it not only serves to settle debts between friends (or pay in an establishment by adding the owner's phone number, as is beginning to be seen in recent months), but that it can also be used to pay online and even in a few physical stores. How? Let's explain it.

The volume of operations registered by Bizum reached 14,000 million euros in 2020

How to pay with Bizum on-line and in physical stores

Bizum on mobile

To be able to pay online with this service we must know, first of all, that the application of our bank must contemplate this possibility and allow you to activate the so-called Bizum key. Even if you have Bizum with your bank, this specific function may not have been enabled. To find out if your bank offers it, take a look at the list of member entities.

To pay 'online' you need your bank to support the so-called Bizum key and not all of them do

With the Bizum key in your possession, you can now pay on-line. Simply You must choose, at the time of payment in the shops that support this solution, the option Pay with Bizum. Next, you will need to enter your mobile phone number associated with the service, as well as the four-digit password that your bank will have provided you through the Bizum section of your application.

The last step will be enter a second code that will arrive by SMS and that is used to validate the operation, as happens when buying with a credit or debit card and voila, the purchase and payment will have been made. At the moment, businesses such as El Corte Inglés, Decathlon, Media Markt, ALSA, Tíanimal, Dia or Orange, among others, allow payment with Bizum.

Lottery 429 475 1920

With Bizum it is possible to pay bets and collect prizes in the State Lottery and Betting administrations.

Bizum: what it is, how it works and compatible banks

To pay in physical stores, at the moment there are two options. The first is by the official route, currently only available in lottery administrations. In this case, the operation uses QR codes and serves both to pay bets and to collect prizes. The process is easy and fast: access your bank's application and the Bizum section, generate a Bizum QR code, show it to the administration staff so that they can scan it and, in the case of payments, you must validate the operation. And that's it.

In lottery administrations you can pay and collect through Bizum

It is also possible pay in the stores of MediaMarkt Spain, as announced by the company last summer.

Parallel, In recent months, the payment of services of all kinds through Bizum has become popular in small businesses, although outside the business solutions of the Spanish banking system since they use the option designed for individuals. With posters with the mobile phone number of the business or directly from the owner, business like bars, for example, allow accounts to be paid in this way.

In addition to being outside the assumptions of use, businesses must take into account that the maximum amount of daily operations is 2,000 euros and that the number of operations is limited to 150 per month.