Bizum will limit the number of transfers that each individual user can carry out on a monthly basis., has confirmed it to Genbeta the payment service provider of the Spanish bank. If until now a user could perform a maximum of 150 bizums per month, monthly transfers will soon be limited to 60.
The new high will enter into force on June 15 and it is established, they assure from Bizum, "in order to continue guaranteeing their safety". In addition, they add that "the sending capacity is not diminished in any case" and that the change is an adjustment of the operation "to the reality of the most common use" among the users of the platform.
Bizum defends the change to continue guaranteeing the safety of users, while preparing their landing in physical stores for the second half of the year
A limit that is proof of uses beyond the particular
In the recent interview we had with Fernando Rodríguez, Bizum's Director of Business Development, we discussed how the payment system is being used from small businesses beyond the private sector. "One of the reasons we introduced limits on the service was to avoid precisely this.", answered. The platform is still a simple way to make transfers, but it is focused on personal, non-professional or commercial use.
For these cases, Bizum prepares its landing during the second half of the year, as confirmed by the manager, through the use of QR codes extending the experience they have acquired in recent months with the possibility of paying and collecting in the State Lottery and Betting administrations. The first experience with physical payments after digital ones.
The operating limits exist in Bizum, among other reasons, to avoid non-contemplated uses such as the use for payments in small businesses
The measure that reduces the maximum number of monthly operations from 150 to 60 will be applied in a generalized way. It is one of the service's own limits, which serve as the basis for banks to be more restrictive, in the same way that these entities decide whether to offer the service for free to their clients or at a cost through commissions.
The banking entities that are part of Bizum, currently more than thirty, They are also in charge of offering businesses the possibility of receiving payments through this system and setting rates for its use.. They currently offer merchants payments on-line and, in the near future, when the possibility of physical payments is launched, they will be able to offer their clients this possibility by signing an agreement, as would happen when offering card payments by dataphone, for example.