Made in Spain 24 bizums per second in 2022. Almost half of Spaniards use the app. The phrase ‘do it for us’ has entered colloquialism, conversations on terraces, and even the way 40,000 businesses conduct business. In just seven years, technology company with nine employees despite being the main tool of digitalization 34 banking institutions It has completely changed the way money is exchanged (including all majors with a 98% market share).
This was announced by the general manager of Bizum. Angel NigorraThis Monday, before attending a conference organized by Ibercaja on innovation trends in payment instruments at the Patio de la Infanta, inaugurated by Antonio Lacoma, regional manager of Ibercaja Banco.
pointed out by Nigorra Bizum’s “viral growth” In recent years, it has been motivated above all by the pandemic. “The core of the curve was small when we started, but it’s skyrocketed since 2018. In 2022, we’ve traded as many times since 2016 as in previous years combined,” Nigorra said. This refers to the fact that more than 1,750 million transfers worth 90,000 million euros have been made to date through the Spanish “fintech”.
They provided Ibercaja button as an example, not regionalized data from ‘Fintech’. Customers of the bank of Aragon process about 80,000 transactions per day for 3 million euros per day.
Even if there are those who think so, sending money by mobile phone is not just a matter of young people. The largest user volume, 35 and 54 years, combines 47% of the total. “People over 55 are where we are less overweight, but interestingly, we are currently in the segment where we are experiencing the most growth due to the pandemic,” Nigorra said.
Bizum is financed by charging bank institutions for every transaction a customer makes. “We are generally known for payments between individuals, but we are also present in 40,000 businesses. This is where we want to grow with Bizum by reaching more businesses that pay and collect every day. And then, to become a comprehensive means of payment,” said Bizum’s executive director.