ING finally enters Bizum, the mobile payments 'app' created by the large Spanish banks



ING announced this Monday that its clients will be able to use Bizum. The mobile payment service between individuals will be available "at the end of July," according to the bank.

In this way, ING finally enters the application, available for years to customers of all large Spanish banks: Caxabank, Santander, Sabadell, BBVA, Bankia, Kutxabank ... In total, there are 25 entities that operate in the platform, which at the end of 2019 had more than five million users. With ING they become 26. According to Bizum data, the affiliated banking entities represent a market share of over 96%.

"ING clients will have the possibility to send and receive money instantly and request a payment from any contact on their agenda," they explain from the bank. "The entity continues to work to incorporate the rest of the platform's functionalities." In addition to allowing money to be sent between friends, Bizum allows online purchases to be made directly from the phone, an option that will not yet be available to ING customers.

Despite taking time out of the popular 'app', the Dutch bank indicates that "it has always maintained an innovative approach in this area" and uses its Twyp application as an example, which allows cash to be withdrawn when buying from associated stores, such as DIA supermarkets. . Although it is his, Twyp works externally and is not integrated into the bank's own 'app'.

Bizum is the trademark of Redsys Servicios de Procesamiento, a company owned by 25 Spanish banking entities. BBVA, Santander and Caixabank each own 20% and Bankia 16%. The board of directors is made up of a representation of CaixaBank, BBVA, Banco Santander, Banco Sabadell, Bankia, Kutxabank and Grupo Cooperativo and Ibercaja.

For Luis González Soto, Director of Daily Banking at ING, this agreement "is one more example of our commitment to offering our clients the best service, specifically in this case, the best payment experience."

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