MADRID (Reuters) – The major financial institutions have reached an agreement for the launch of a payment service by mobile in real time that allows you to transfer funds from account to account with only dial the mobile number of the recipient.
The new solution, called Bizum and developed by the own banking, already works for 16 banks, which represent 82 percent of the market share.
For now, the application is only available for payments between private individuals, but in the next few months will also be permitted to pay in traditional shops and electronic.
“consumers are increasingly demanding methods of payment that are immediate, simple and for all”, he explained at a press conference the CEO of Bizum, Angel Nigorra.
The new service shared by the banks could make about 1,000 million operations in five years with a volume of 30,000 million euros.
Nigorra said that the commissions that they would pay the users for the new service would depend on the conditions that each customer has with your bank.
The method consists in that the user activates the service in the app of your bank, choose the contact from your phonebook, which also has to be activated Bizum, to which you want to transfer an amount, which now ranges between 50 cents and 500 euros, and the money comes “in less than five seconds,” said the ceo of Bizum.
Regarding one of the topics of most concern to users, the security and protection of data, Nigorra defended the high security standards of Bizum, “equivalent to other means of payment we have.”
however, I would not cite specific security mechanisms for this service that only requires to know the telephone number of the other to perform these transfers.
(Information Enrique Anarte, edited by Robert Hetz)
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