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How many times have you heard the phrase: "I'll give you a bizum"? It's one of the most common expressions in recent years. Now, this simple payment method for paying off small debts with your group of friends or family is making the leap to the professional sphere to also gain a presence in stores and businesses.
We'll tell you all the details about this new use of Bizum.
After a decade of being active in Spain, Bizum lands on dataphones and now allows payments in physical stores, which represents one of the most important changes since it arrived.
The company has begun enabling NFC payments in compatible stores so that users can pay directly with their mobile phone by holding it directly to the terminal, without having to scan codes or receive links. A system that will compete with Visa, Mastercard, Apple or Google.
News
An app called Bizum Pay will also arrive, which will be like a Bizum wallet app with which you can make the simplest payments, just like if you did it with Google Pay or Apple Pay. And without having to enter the bank's app.
Of course, the most popular payment platform in our country has announced that the deployment will be progressive, since each bank will decide when to incorporate the function into its application.
Bizum currently has 39 affiliated banks, including the most important banks in the country. CaixaBank, Sabadell and Bankinter will be the first entities to offer the service, with others to follow. The payment system is very similar to the current one, although adapted to physical establishments.
Advantages
Bizum's system will have the same security guarantees as other mobile payment options. You will have to unlock your device to pay, so it is safer than paying with a card, which others can use.
Bizum's new proposal aims to take advantage of the push for payments made with mobile phones, an option that has gained popularity in recent years. This arrival of Bizum in supermarkets and traditional stores will also bring advantages for businesses. Its incorporation into everyday life will not require them to make any additional investment because they will be able to offer this function with the dataphones they already have on the counters. In addition, another advantage is the immediacy, since they will receive the money instantly. Even the commissions will be lower because intermediaries will disappear.
Finance
On the other hand, we remind you that, starting this year, the Tax Agency can access all banking operations carried out by self-employed individuals and companies through Bizum, without any limit on the amount. Therefore, this economic information must be reported monthly to the Treasury.
This aims to prevent tax fraud, guarantee that all economic transactions are registered and declared, and thus reduce the shadow economy that can be generated within the services sector.
If you need more information, do not hesitate to contact DATA AND SERVICES.