Bizum accelerates a project so that customers can pay in physical stores directly from your mobile phonewithout the need for a card. The initiative, planned for 2026, seeks to usher in a new era for the Spanish instant payment service and respond to growing demand at the point of sale.
According to industry sources, the banking sector is working on an application called Bizum Pay and in the possibility of integrate that capability into the apps of the entities themselvesreplicating the simplicity of current Bizum transfers. The move fits with the European strategy of reduce dependence on Visa and Mastercard in day-to-day payments.
How would in-store payments with Bizum work?
The proposal involves a digital "wallet" that allows users to bring their phone close to the POS terminal and complete the purchase as if it were contactless, but with a Key difference: the charge is made against the account associated with Bizum, without a card as an intermediary.
The banks are exploring two technical avenues: launching a standalone app (Bizum Pay) and, in parallel, enable functionality within banking applications already installed. This would allow the service to be rapidly extended to millions of users who already use Bizum daily.
In terms of compatibility, the solution aims to work with standard retail point-of-sale (POS) systems, just like any mobile payment. The recent opening up of mobile payment options NFC on iPhone in Europe This makes it easier to have a consistent experience on both Android and iOS.
The idea didn't come from scratch: during the pandemic, trials were carried out with establishments, and since then the sector has worked with the Bank of Spain in a simpler operating schemeToday Bizum already operates in e-commerce and donations; the next step is to bring it to the store counter.
Impact on businesses and consumers
Bizum plans to apply a commission to each POS payment, with the commitment that it will be lower than that of the major international networksBy eliminating intermediaries, the process is simplified and could lower costs for trade.
For the end user, the proposal maintains Bizum's philosophy: sin costes añadidos And with the convenience of paying with your mobile phone. Bizum's huge existing customer base would facilitate adoption if the experience is as straightforward as sending money between individuals.
From a banking perspective, the new channel opens up a revenue stream that would help sustain the operations of the payment platforms, which they process today more than three million daily movementsThe goal is to balance the cost of infrastructure without passing it on to consumers.
The comparison with Apple Pay or Google Pay is inevitable: Bizum Pay aims for the same payment gesture, but with the particularity of being linked to the account (not to a card), reinforcing a payments ecosystem directly controlled by European banks.
Europe seeks to be at the forefront of this market
The project aligns with the European Union's push to gain autonomy in payment methodsIn addition to the in-store solution, banks are negotiating to interconnect national platforms so that it will be possible to send money between countries as easily as a domestic Bizum.
The EuroPA and European Payments Initiative (EPI) are making progress towards common standards and the definition of a interconnection feeMeanwhile, Wero —backed by French and German entities— is preparing its entry into e-commerce and, later, into the physical environment.
Spain is already acting as a spearhead: some entities allow Instant transfers with banks in Italy and PortugalThis is the first step towards a pan-European Bizum. The industry's target date is 2026 for broader interconnection.
What remains to be specified
The operational details will be defined in the coming months: Commission model for merchants, rollout schedule and the priority between a proprietary app or bank integration. Pilot programs with retailers are also expected to refine the checkout experience and POS compatibility.
Bizum has not made any public comments regarding exact dates. In any case, the European regulatory framework (PSD2 and strong authentication) and the security in credential tokenization They will be essential pieces for the launch.
If the deadlines are met, the Spanish market could gain a native bank payment method in physical stores that complements cash, cards, and large mobile wallets, with More competition and options for trade.
Everything points to a significant change in proximity payments: a Bizum wallet for physical stores, based on the account and supported by European banks, which seeks less dependence on international networks, more competitive costs for businesses and a familiar user experience.
