The well -known instant mobile payment service, Bizum, has announced an agreement that will positively influence the shipments of money Between España, Andorra, Portugal and Italy.
Since his creation in 2016, Bizum has established himself as an essential payment method in Spain and Andorra. In 2024, he recorded the impressive figure of over 1,100 million operations, Which shows that it is found in purchasing habits and daily economic management.
So far, the Bizum mobile payment service has allowed the money to have only one phone number, but associated with a bank account in Spain or Andorra.
This changes now, according to the company, since then They obtained an agreement with ATM from Italy and with MB Way of Portugal, The main mobile payment networks of these countries, so you can send and receive money immediately.
This initiative is part of Europe (European Payments Alliance), with the Objective that all banks in the four countries are connected by the end of June. The potential of this alliance is enormous, reaching the 50 million users through 186 financial entities.
Will the way of using the Bizum change?
The good news for users is that The Bizum operation will remain intact. The sending of money will remain simple and safe as so far: selection of contact, indicating the amount and the recipient will receive the money instantly.
Which banks will be available and when?
The implementation of This interconnection will be carried out gradually in the various banking entities. In Spain, Banco Santander and his digital OpenBank and Abanca digital controlled will be the first to activate the service. Caixabank, BBVA and Banco Sabadell will be added in the coming weeks. The rest of the entities will do so during the second quarter of the year.
Bizum and his partners expect this agreement to inspire other European entities to join this alliance, being thus able to reach a network of instant payments throughout the continent.
