Bizum support

Ideas
1

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.

3

@FolioBund Hello, Welcome to the community. :smiling_face:

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. :rocket:

Veda | Community Team

4

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

3 Likes
5

@endernull Hello, Welcome to the community. :sunflower:

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. :pray:

Veda | Community Team