Let’s tell you How Bizum payments work in stores physical. This is the long-awaited function with which the Spanish application begins to compete with the American Visa, Mastercard, Apple or Google to take over our mobile payments.
The deployment of this function will be progressiveand it will be each banking entity that will decide when to implement it. So, the technology already works as of now, but since Bizum is implemented directly in your bank’s app, it will be up to you when to add the touch payments feature.
How this feature works
This new function is used to pay with Bizum at the establishments’ dataphones. Businesses will not have to change their POS terminals, since the financial institutions themselves will be the ones to enable this new function in the terminals they already have. All this so that the implementation of this function is quick and easy.
Currently, when you pay with your mobile phone in a store, you open your wallet application, choose the card and bring your mobile phone closer to the POS. The NFC chip in your mobile phone and the dataphone establishes the link between them and that’s it, you’ve paid. Now, You can do this from your bank’s app without having to configure the mobile wallet app.
In addition to this, An app called Bizum Pay is also going to start arrivingwhich will be like a Bizum wallet application with which to make the payment easier, just as if you did it with Google Pay or Apple Pay, and without having to enter your bank app.
The Bizum system will have the same security guarantees as the rest of the mobile payment options. You’ll have to unlock your device to pay, so it’s safer than paying with a card that others can use. Bizum currently has 39 participating banking entitiesamong them the most important banks in Spain, but also many neobanks.
Therefore, if you are going to pay for your mobile phone, you can do so with this Spanish alternative instead of resorting to the American ones. The way it works will be exactly the same.
When can you pay with Bizum in a business
When your bank wants. This is the quick answer. From now on, it will be up to each bank to implement this technology in their mobile applications for customers and in the POS terminals of businesses. Each bank will have its own rhythm, that is, it will arrive progressively.
In any case, you will have to pay attention to notifications from your bank’s appthe one you already use to send money with Bizum, because that will be when you will be told when you can start using this.
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