Spain’s Bizum Banks on Point of Sale Expansion to Drive Growth

Since its launch in 2016, Bizum has become an integral part of Spain’s payment ecosystem.

But although the mobile payment system boasts over 22 million users, about 47% of Spain’s total population, initial adoption has been largely limited to eCommerce transactions, with cash payments still proving to be a strong local contender.

“We are doing fine in eCommerce but we still have the challenge of competing with cash,” Bizum’s business development director, Fernando Rodriguez, told PYMNTS in an interview.