Things you may not know you can do with Bizum
Bizum is the application with which the main Spanish bank has managed to make us exchange money with friends and family at all hours without using cash, but this app is much more.
Throughout 2020, Bizum has managed to double its number of users and growth does not stop. It is the best way to make fast, secure and commission-free transactions between mobile contacts, it is even being used for payments in small businesses or freelancers.
This application has a limit of up to 1,200 euros per day and with success they have had to limit to 60 the operations carried out in a month. However, it has other qualities that have gone unnoticed by most users, who are limited to entering your bank and sending a few euros to a friend.
Collect and pay the lottery
One of the hidden functions of Bizum is the collection of the lottery. With this application you can pay and collect your prizes from the State Lottery and Gambling Administrations (SELAE). For this, Bizum has enabled a QR code generator with which to protect personal data and be able to carry out the transaction.
From the mobile application of your bank, entering the Bizum section you have the common options to send money and among the others there is one for generate a QR code with your signature. By showing the code to the lottery administration staff, they scan it and the transfer is activated. You can also use this system to pay for a new lottery ticket.
In the same way you can make payments in online stores. For this a four-digit code is required. Again it depends on the application of each bank, but the most common is that there is a section to Pay with Bizum or Create a password, it may be hidden in the application settings. With this code you can approve the payment on any page associated with this system in a secure way.
Lastly, there are donations to different NGOs. The positive part is that the total amount of money you decide to donate to an organization will be for them, without losing part of commissions or fees. Bizum has a list of organizations for you to look for the one that interests you, the procedure is the same as for sending money to a friend.
The ultimate objective of the Bizum system is that its use is fast, easy and safe, for now they are achieving it. All transactions can be carried out without having to give your bank details to the other person, company or organization, banks manage it while maintaining privacy. Even so, scams through this form of payment are becoming more frequent, so you have to be informed and operate with care.