Bizum payments increased 281% in 2021

Bizum payments have increased almost four times in the past 2021. The Spanish banking mobile payment solution, reached 6.1 million purchases made in the first half of 2022, almost four times more (+281%) than in the same period of the previous year (1.6 million) and surpassing the transactions made during the whole of 2021 (5.3 million). 

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According to data provided by the company, the value of purchases made with Bizum amounted to 351.7 million euros, a significant growth when looking at the figures recorded last year (320 million euros, +9.9%). The number of online merchants accepting Bizum amounts to 34,900, practically double that of June last year, with 8,200 more adhering merchants than at the end of 2021. 

Bizum: The app to pay the tab 

Bizum has achieved its most significant popularity in Spain thanks to its usefulness as a tool for sending small amounts of money between individuals. In this regard, users made an average of 22 bizums per second during the first half of 2022. 

The number of person-to-person transactions carried out during the first half of 2022 was 338 million, an average of 22 bizums per second, with an associated volume of €18 billion and an average amount per transaction of €53. The app is commonly used to split bars and restaurants tabs among friends.

Currently, Bizum users already exceed 20.8 million, representing a growth of 26.06% compared to July 2021. It is also worth noting that the activity rate during the first half of 2022 (percentage of users who used Bizum) reached 90%.

According to Ángel Nigorra, CEO of Bizum, "The figures show the daily use of Bizum is increasing and growing in all age groups, especially among the more adult public, due to its simplicity. And we continue to break records. Last July 1, 2.8 million bizums were made, an average of 33 bizums per second."