Can your SME use Bizum in its online sales? Keys to integrate it into your digital strategy

 

Bizum for companies: a service different from individuals

The first aspect that any SME should know is that Bizum does not work the same for individuals as it does for businesses.

The service for companies — known as Bizum for associated businesses — must be contracted through the banking entity. Just having the app on the mobile phone is not enough.

To activate it, your company needs:

• A Spanish bank account.

• An associated mobile phone number.

• Request the bank to activate the service for e-commerce.

The management is not automatic: it is the financial entity that activates the service, configures the conditions, and facilitates the technical integration with the website.

How the purchase process works with Bizum in an online store

For the customer, Bizum is one of the fastest payment methods on the market.

In an online purchase, the user only needs to:

1. Enter their phone number.

2. Enter their Bizum Key, a four-digit PIN managed from their bank.

This system simplifies the shopping experience and reduces cart abandonment, something especially relevant for SMEs looking to improve their conversion.

It is also important to note that the money transfer limits between individuals do not apply to businesses. This allows for operations with higher amounts and without the typical restrictions of personal Bizum.

Restrictions: foreign accounts and compatibilities

Although Bizum is a widely adopted system in Spain, it maintains geographical limitations.

• Trade must have a Spanish bank account.

• Customers cannot pay with Bizum if their bank account is foreign.

• The customer's phone number can be foreign, as long as it is linked to a Spanish account.

For SMEs with international customers, this point must be considered within the payment methods strategy.

If the customer does not have Bizum: this is how the system works

If the customer enters their number and does not have Bizum activated:

• The system will send them an invitation to join.

• The transaction will remain pending, depending on the type of transaction.

Expiration deadlines:

• In money transfers → automatic cancellation after 2 days without response.

• In money requests → automatic cancellation after 7 days.

This ensures a secure management of operations and avoids indefinite transactions.

Bizum is a useful tool for SMEs looking to:
Streamline the payment process.
Reduce cart abandonment.
Facilitate purchases from mobile devices.
Offer popular and trustworthy payment methods for the customer.