Bizum for businesses: benefits and how to accept payments online

Bizum has become one of the most widely recognised payment methods in Spain. What started as a way to send money between individuals has evolved into an alternative for making purchases and paying for services quickly and easily.

But how does Bizum work for businesses? What benefits does it offer, and what do you need to start accepting payments through this method? In this article, we explore its main features and the opportunities it offers businesses.

What is Bizum for businesses and how does this payment method work?

Increasingly popular in Spain, Bizum allows users to make payments quickly, easily and, above all, conveniently using their mobile phones. The service is based on instant bank transfers, with the mobile phone number serving as the identifier.

In recent years, Bizum has become a popular way for friends and family to send and request money from other users. Bizum now has more than 32 million users across Spain and Andorra, and this figure continues to grow. Many businesses also offer Bizum as a payment option to their customers.

Unlike money transfers between individuals, Bizum for businesses allows companies to incorporate this payment method into their sales processes. Customers can use it to pay for purchases in online stores and for services, depending on the options and terms supported by their bank or payment service provider.

In ecommerce, Bizum can be integrated directly into the checkout process as an alternative to bank cards. Customers simply select Bizum, enter their mobile phone number and authorise the transaction through their banking app. For merchants, this means they can accept digital payments without requiring customers to enter their card details, providing a straightforward and familiar payment experience.

Adding Bizum as a payment method to an ecommerce store can bring benefits both to the customer experience and to payment management. Here are some of the main advantages of accepting Bizum payments in your online store.

Speeds up the payment process

One of Bizum’s main strengths is how easy it is to use. Customers do not need to enter their card number or other card details. Instead, the payment is linked to the mobile phone number associated with their Bizum service and bank account. They simply need to authorise the transaction through their banking app.

This can simplify certain steps in the checkout process and reduce the amount of information customers need to enter when making a payment.

Expands your payment options

Not all customers pay in the same way or have the same preferences. Offering Bizum alongside bank cards and other payment methods gives customers more choice at checkout and helps businesses cater to different types of buyers.

Providing several payment options gives customers greater flexibility and makes it easier for them to choose the method that best suits their needs. This can contribute to a smoother and more satisfying shopping experience.

Builds customer trust

Bizum is already familiar to a large part of the Spanish population. Offering it in your ecommerce store can therefore help build customer confidence and provide a payment option that many users already know.

Transactions are subject to the authentication and security procedures established by the relevant bank and applicable regulations, including PSD2 requirements where relevant. These measures help protect payments and reduce the risk of fraud.

Helps improve conversion rates

The checkout process is a decisive stage in any online purchase. If customers cannot find a payment option that suits their preferences, or if completing a transaction involves too many steps, they may abandon their purchase.

Offering Bizum as an alternative can simplify the experience for customers who prefer this payment method. While it cannot guarantee an increase in sales on its own, providing suitable payment options can help reduce friction and encourage more customers to complete their purchases.

Which businesses can accept Bizum payments?

Bizum for businesses is not limited to a single industry or business model. It can be a useful option for different types of companies that need to accept digital payments. Examples include:

• Online stores and ecommerce businesses: they can integrate Bizum into their checkout to offer an alternative to bank cards and make it easier for customers to pay for their orders.
• Service providers: they can use it to collect payments for services booked online or to make it easier for customers to pay specific amounts.
• Businesses offering remote sales: they can incorporate payment solutions that allow customers to complete transactions without having to visit a physical location.
• Businesses with multiple sales channels: they can expand their payment options and adapt their collection methods to customers’ needs across different channels.

In all cases, Bizum’s availability and the ways in which businesses can accept payments depend on the terms of the service, the bank and the payment service provider.

How does a Bizum payment work in an online store?

In an online store, Bizum is integrated as one of the payment options available during checkout. The process is designed to allow customers to complete their purchases on their device and authorise the transaction through their bank.

Although the exact process may vary depending on the integration and service conditions, it generally involves the following steps:

1. Selecting the payment method: customers add the products to their shopping cart and select Bizum from the payment options available at checkout.
2. Identifying the user: they enter the mobile phone number associated with their Bizum service.
3. Requesting authorisation: the transaction is sent to the relevant banking environment so that the customer can review and authorise it.
4. Confirming the payment: customers confirm the transaction through their banking app, following the authentication process established by their bank.
5. Notifying the merchant: once the transaction has been processed, the merchant receives the relevant confirmation and can continue processing the order.

How to integrate Bizum into your online store

To start accepting Bizum payments, a business needs access to a merchant-enabled service and the infrastructure required to process transactions.

For an online store, there are several aspects to consider:

• Signing up for the service: you need an agreement with a bank or payment service provider that enables you to accept Bizum payments as a business.
• Choosing a compatible solution: your payment platform must support Bizum and allow it to be integrated into your sales environment.
• Integrating the payment method: Bizum must be correctly added to your checkout so that customers can select it when making a purchase.
• Configuring your payment environment: it is important to check that transactions are processed and notifications are received correctly, and that you can track their status.
• Testing the payment process: before making Bizum available to customers, you should run tests to ensure that the entire payment process works as expected.

Choosing the right provider is particularly important for businesses that offer several payment methods or need to manage transactions across different sales channels. A centralised solution can simplify integration and make it easier to monitor payments.

How to accept Bizum payments with PaynoPain

More than 50 payment methods through our virtual POS

Our online payment gateway offers a wide range of payment methods while helping businesses meet PSD2 regulatory requirements through 3D Secure authentication. It is also PCI DSS compliant and includes advanced security technologies such as card tokenisation and our own anti-fraud system.

With PaynoPain, you can offer your customers a straightforward payment experience while managing your online transactions through a single platform.

If you sell your products or services in Spain and have not yet integrated Bizum into your payment options, get in touch with us. We’ll help you find the right payment solution to support your business growth.