Bizum Reaches 20 Million Users And 1 Billion Transactions

Mobile payments

Bizum, the Spanish bank’s mobile payment solution, has reached 20 million users, which means that it is now used by approximately half of the Spanish adult population. In addition, it has also reached 1,000 million transactions, of which 990 million correspond to payments between individuals and 10 million to payments in shops.

The volume associated with Bizum transactions has reached €50,558 million since its launch, of which 50,000 were payments between individuals, with an average of €51 per transaction. In terms of online purchases, the volume has reached €558 million, with an average purchase of €56.

The continuous addition of new merchants accepting Bizum (now 31,000) and the growing number of Bizumers using this functionality (16.2 million) has significantly boosted the growth of the online commerce solution. So far in 2022 alone, 3.25 million transactions have already taken place, a third of the total cumulative total since the launch of the e-commerce payment at end-2019, with month-on-month growth exceeding 10%. This year alone, the volume associated with these purchases already amounts to 185 million euros. So, according to market data, Bizum already represents more than 15% in those businesses that offer the service, confirming itself as the second preferred payment option.

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.