For those who don’t know, Bizum is an instant payment system organized by a consortium of Spanish banks.
It uses phone numbers to route payments, or for some organizations there is a short numerical code.
It’s ubiquitous. One might use it to split a bill with friends, buy in some shops, donate to charities of tip a street performer.I can’t understate how much it’s a part of daily life.
(on a sidenote it’s likely a reason many Spanish banks charge for SEPA instants because it would undercut Bizum)
Now, I don’t know how much implementation would cost, but I’m pretty sure there is a good business case for it. Since Revolut now has a legal entity in Spain, it should be able to join.
According to this article, Spain figures as one of major markets for Revolut.
I’m sure relevant people in Revolut know about it already, but if they don’t have anyone who actually lives in Spain they might not be aware how much essential it is for Revolut being anyone’s primary bank.
Thank you for this detailed message. We appreciate your input and will make sure to keep you updated on any developments regarding the implementation of Bizum in Spain.
This is the second most important feature for adoption in Spain after spanish IBAN, everyone uses it, even if you don’t use it to send payments, you will need it to receive them because everyone uses it to share expenses. It’s one of the last remaining reasons why I can’t ditch my old bank
Thank you for sharing your feedback! We understand the importance of this feature and its widespread use in Spain. We’ll take this into consideration as we continue to improve our services.
Hi there, this article (Revolut launches credit cards and will join Bizum with a Spanish IBAN) seems to indicate that Bizum is already available through Revolut. Am I reading htis correctly? What do I need to do add Bizum integration? Is there a process for applying for a new credit card?
The lack of Bizum (and being able to pay on Ryanair) is the only reason I am not moving my N26 Premium account to Revolut. Revolut is doing many things right and happy to go back to my metal plan, but no Bizum is a deal breaker when living in Spain
This is the only thing holding me back from using Revolut as my main account.
Bizum is a must in Spain. We don’t split tickets at restaurants, bar, travels… usually someone pays the full amount and then everyone pays him back with that method.
+1. This is the one remaining advantage of N26 (and the other more traditional banks) in Spain right now. As soon as Revolut has bizum I’m planning to immediately close my N26 and move all my day to day finances to Revolut. Unfortunately in Spain bizum is so popular now that not having it available for your main account is a major pain.
I’m also a Spanish resident and I couldn’t imagine living my daily without the use of Bizum. I totally agree that Revolut is a pioneer in instant top-ups and sending money with your own private link and customs links. It also have a lot of benefits that other neobanks like N26 offers them as premium. Us users love to have a simple and efficient UI that help us in daily.
That’s why we’ve moved to simpler banks like Revolut. Because we’ve been heard and you offer us top tools to improve our financial health like Pockets, Savings and Joint Accounts!. I now think it’s time to improve this year and add Bizum ASAP.
Most Spaniards were shocked that Revolut joined Spain without Bizum and you can search our desperation for it through Google Search. For us is a need, not a want. This is also the main reason why most Spaniards (including me) are still using banks like N26 as their primary accounts and not moving fully to Revolut.
The first post detailed explained everything you should know and I hope you give us a date soon. I am obsessed with all the features and the capabilities of Revolut and I wouldn’t expect less from you guys.
The main reason Spanish users ask for Bizum is because we want to continue using your services and we love how Revolut works!
I hope our amends are met through the year and we hope you guys work hard to fullfill your happy, loyal, and demanding customers.
We completely understand your frustration and urgency for Bizum integration in Spain! We’re working hard to make it happen as soon as possible. We appreciate your passion and patience, and we’ll keep you updated on any progress.
Unfortunately I do not have an update on Bizum support just yet, I understand how much it’s anticipated. Rest assured, you’ll be the first to know when it becomes available.
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