Overview
- Bizum Pay, which began operating Monday, is live in select bank apps and a limited set of stores as banks switch on the feature in stages.
- Shoppers tap their phone on the terminal to trigger an instant bank‑to‑bank transfer via NFC, using their bank app now as the Bizum Pay wallet rolls out later.
- Availability will widen as banks activate the tool, users enable it in their apps, and payment providers finish turning on NFC‑capable terminals at checkouts.
- For merchants, the draw is quicker access to funds and fewer intermediary fees than card rails, which could help smaller shops that rely on fast cash flow.
- Experts cite PSD2‑level checks such as PIN, biometrics and trusted devices, yet warn about phishing through “request to pay” prompts and note unclear refund and dispute handling.