Ibercaja will add Bizum Pay to its range of payment services, bringing Bizum to in-person purchases at brick-and-mortar stores. The bank is thus beginning the rollout of a service that will allow customers to pay by holding their mobile phones near the point-of-sale terminal, while merchants working with the bank will be able to incorporate the system into their POS terminals.
The new feature expands Bizum’s scope, which has become established primarily for person-to-person money transfers and has also extended to donations and online purchases. With Bizum Pay, the platform now moves into in-person payments: users will be able to complete a purchase by holding their device near a store’s enabled terminal.
To use the service, Ibercaja customers will be able to register Bizum as a payment method in the Bizum Pay app. The new version of Ibercaja’s app will enable users to complete that registration and authentication process. The service uses NFC technology, and payments will be charged directly to the bank account the customer has linked to Bizum. According to information provided by the bank, the system meets the security standards established under the European PSD2 regulation.
Víctor Royo, head of Ibercaja’s Payments and Consumer Business division, said the development reflects the level of adoption Bizum has achieved among users. “Bizum has become an everyday tool for millions of people, and the arrival of Bizum Pay represents a natural step in its evolution,” he said. Royo added that the bank aims to introduce innovations offering “convenience, security and a payment experience that is increasingly integrated into everyday life.”
Merchants will also be able to accept payments through Bizum
The change affects both sides of the transaction. Ibercaja plans to extend Bizum Pay across its merchant network so that businesses can accept the payment method through their physical POS terminals once the technology rollout has been completed. The bank will inform merchants of the service’s terms and features as implementation progresses.
The system will therefore not be available immediately at all terminals. Ibercaja is planning a gradual rollout over the coming weeks for both individuals and merchants, meaning the number of stores where it can be used will grow as terminals add the new functionality.
The move is part of the evolution of payment methods toward digital solutions and represents Ibercaja’s participation in a new development by Bizum, an initiative born from collaboration among Spanish banks. According to figures provided by the bank, Bizum currently has more than 32 million users.
