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Bizum will register 30 operations per second in 2023

Ecommerce News Magazine

Bizumthe instant mobile payment solution from Spanish Banking, continues its unstoppable growth. In the past year reached an average of 2.5 million bizums per day, an average of 30 bizums per second. The record for Bizums in a day was set on December 1st at 4.2 million (an average of more than 48 Bizums per second).

In 2023, Bizumer made 940 million Bizumers through payments to friends or family, e-commerce purchases, donations to social causes or collections, and payments in state lotteries and bets. The volume associated with these operations exceeded 51,000 million euros.

Accordingly Ángel Nigorra, General Director of Bizum, Last year was a very important year for Bizum, not only because of our results, but also because we expanded our horizons with a new service and an agreement to reach more countries. In this sense, in 2023, Bizum launched a new service that complements the one it already offers and that several of its companies have already begun to market: a digital identifier that allows the registration and access of users to companies and companies only with their own services makes it easier to use mobile numbers and thus improve the online shopping experience for companies and service providers.

In addition, last year Bizum reiterated its intention to expand its reach to other areas. The company signed for this an agreement with the main Italian and Portuguese mobile payment solutions to allow users to make fast, convenient and secure instant payments with their mobile phone in the three countries, in addition to Andorra, where the three local entities already offer Bizum.

E-commerce leads Bizum’s growth

Online purchases at Bizum have doubled compared to 202230 million purchases with an associated value of around 1,650 million euros. In the months of November and December, Bizum exceeded the average of 120,000 daily purchases. In addition, the record for Bizum purchases in a single day was also broken in this area with 218,000 purchases on Black Friday.

Accordingly Angel NigorraIn 2023, we have seen more and more online businesses and services of all sizes and industries demanding the benefits of offering their customers the ability to pay using only their mobile number by accepting Bizum as a payment method. And companies have played a very important role in making it possible and accelerating this option to be available to their companies.“. Today, more than 58,700 online businesses accept Bizum as a payment method.

Donations, payments and collections for state lotteries and betting

In 2023 The Bizumers once again demonstrated their social and ecological commitment, with more than 600,000 donations worth over 24 million euros. So, More than 9,500 social causes have a Bizum code for fundraising.

Personal payments and collections with Bizum at the more than 11,000 state lottery and betting establishments also contributed to the growth of the mobile payment solution, almost doubling. In 2023, 270,000 transactions were carried out (121,000 payments and 150,000 collections). The volume associated with these operations was 37.4 million euros.

Predictions 2024

In 2024 Bizum aims to reach 28 million users, 85,000 companies and 1,000 million businesses. TOIn addition, it is expected that new functionalities will already be available that will promote the use of Bizum as a preferred payment method for Spaniards (subscription payments, shared payments, top-ups in third-party applications, personal payment,…) , which will promote the use of Bizum as a continue to expand the preferred payment method for Spaniards.

In this sense, Bizum companies will promote the new digital identification service, which will allow companies to have data and reliable authentication of their customers and provide Bizum users with a mechanism to control the sharing of their information with third parties and access it without the need for additional passwords.

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