Annual number of real-time payments with Bizum in Spain 2020-2022
Bizum's number of transactions processed in Spain more than tripled between 2020 and 2022, making it one of Europe's fastest-growing A2A payment methods. Bizum is a payment service that is embedded within Spanish banking apps. Domestic banks worked together to create the system in 2016 to help facilitate P2P payments via a smartphone. By 2023, the scheme uses the SCT Inst Standard, a real-time payment standard of SEPA. Bizum and the UK's Faster Payments are the only two European real-time payment systems that feature among the top 10 brands with the highest number of instant payment transactions in the world.
