Business · Companies · 3 hrs ago

Bizum Pay expands to major Spanish retailers

Bizum Pay expands to major Spanish retailers

Spanish retailers are adding Bizum Pay as a way to pay in physical stores.

The service is available at chains including Inditex brands, Ikea, Carrefour, Eroski, Alcampo, Burger King and Lidl, and Mercadona is starting a full rollout this month.

More than 1.7 million establishments in Spain accept it, while El Corte Inglés plans to add it across its stores soon.

Bizum Pay is a Spanish banking alternative to Visa and Mastercard, which have so far dominated many in-store card payments.

Customers pay nothing to use it, but shops are charged; some banks say fees may be lower than card fees, which can weigh more heavily on small businesses.

Because Bizum Pay transfers money directly, shops can receive sales payments immediately, unlike the usual delay with card payments.

For now it works only in Spanish stores, while the planned rollout at El Corte Inglés is the next step mentioned.

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