This is what you can do or not depending on your entity

It is very difficult to choose a phone number of the contact agenda and that it does not have an active bizum: the monetary shipping service is almost a standard in Europe. But not only is it limited to sending money and receiving it, Bizum has more related options And that you can enjoy your advantage. Of course, it will depend on your bank.

Anyone with Bizum can send you money if you are also on the platform. Likewise in the opposite direction, this is inherent in all the banking entities that collaborate with the platform. The thing changes if we look at the limits, because each imposes theirs. The same goes for the functions added to the shipment and reception of money with Bizum.

Send and receive money that everyone has it. Beyond the bizum here is different in each bank

Bizum options in the BBVA application

The bases are a standard throughout the platform. You can find variations within the limits of monthly spending, for example, also in what you can receive each month or in the number of maximum operations with your Bizum account. These limits are established by each bankBut all those who admit Bizum allow you to send and receive money.

Bizum works in 39 banking entities in Europe: if you have a bank, you have almost surely bizum. To use it, you must save the account with your phone number and in the mobile application of your entity. Once this step, you will have access to what we have commented on: send and receive money instantly and mobile on mobile.

What are the additional and basic functions? Let's see.

• Online payments. In addition to sending money, Bizum allows you to pay purchases made in Internet stores. For example, Amazon introduced the option a few months ago. It is compatible with most banks.
• Physical payments. Like the above, but for purchases in a real store, it is not available in many banks and offers two ways: payment by QR code and contactless.
• Payment of lotteries. An addition of the above: some entities provide payment in lottery administrations using Bizum.
• Divide the expenses of Bizum himself. Without using the calculator or foreign applications: there are banks that already offer the automatic division of expenses with the payment of the payment order to each of the participants.
• Donations to NGOs. Some entities facilitate donation to NGOs in its bizum interface.
• Digital identifier. This is one of the latest news in bizum: which has an account can be identified on websites and applications that have implemented registration with the payment platform. As connection with Google or Facebook, for example.

The above is the additional functions of bizum. There are banks that offer several of these possibilities and some that do not offer them. Here is a summary table.

The following border: replace the cards

Payments in physical stores are still taking off. Once they have reached all data data, we will not have to request a debit or credit card to pay purchases in a store: it will be enough to make the transaction via the Bizum application. Without additional costs and just as quickly, as is the case with WeChat in China, for example. It is the medium-term future of the Spanish payment platform.

Cover image | Iván Linares

In Xataka Mobile | Bizum wants to kill credit cards. You already have what is necessary: ​​access the dataphone