Drive more sales in Spain: Integrate Bizum for instant and frictionless payments
As Spain’s most popular mobile payment method, Bizum enables businesses to facilitate instant payments, reduce friction at checkout, and meet the growing demand for speed and convenience.
In this article, we’ll explore how your business can leverage Bizum to boost conversion rates, enhance customer trust, and gain a competitive edge in the Spanish market.
Ready to unlock the potential of Bizum? Let’s dive in!
Why Bizum is a game-changer for payments in Spain
Spain’s e-commerce industry has experienced significant growth, with mobile shopping playing a pivotal role. According to Statista, approximately 76% of online shoppers in Spain made purchases via smartphones or tablets in 2022, marking a 6% increase from the previous year.
In this context, Bizum has emerged as a market leader, trusted by over 27 million users across industries like retail, travel, and digital services. Its success is built on simplicity and efficiency:
Seamless Use: Customers can use Bizum with their existing bank accounts, cutting the need for additional setups or apps.
Instant Payments: Transactions are completed in seconds, providing a smooth and intuitive payment experience.
For merchants, incorporating Bizum as a payment method is not just a matter of convenience but a strategic move in a highly competitive market like Spain. By offering a familiar and widely-used payment solution, Bizum builds customer trust.
Additionally, its fast, secure, and simple payment process significantly reduces cart abandonment, boosting conversion rates in one of Europe’s most dynamic markets.
Bizum’s transformational impact on Spain’s payment ecosystem
Since its launch in 2016 by a consortium of 30 major Spanish banks, Bizum has revolutionized the payment landscape in Spain:
Massive Adoption: Over 27 million active users, representing roughly 60% of Spain’s banked population.
Transaction Volume Growth: Bizum has processed over 2.98 million transactions, with an average annual transaction volume growth of 166% between 2019 and 2022.
Mobile-Driven Market: With smartphone penetration expected to reach 97 % by 2029, Bizum’s mobile-first approach aligns perfectly with consumer preferences.
These numbers underscore Bizum’s critical role in the Spanish payment ecosystem, making it an essential tool for merchants aiming to thrive in this market.
5 key advantages of adding Bizum with MultiSafepay
Integrating Bizum through MultiSafepay offers a seamless, efficient, and scalable solution tailored to the needs of the Spanish market. Here are five key benefits:
1. Instant, secure payments that drive conversion
Bizum enables real-time payment processing, ensuring transactions are completed instantly. Its integration with users’ existing banking apps simplifies the payment process, removing barriers to purchase and reducing cart abandonment rates.
2. Easy integration with popular platforms
MultiSafepay ensures a hassle-free setup for platforms like Prestashop, WooCommerce and Shopify. The backend integration is handled entirely by MultiSafepay, allowing merchants to focus on growth without worrying about technical complexities.
3. Broad appeal across demographics
Bizum resonates with all demographics in Spain, thanks to its simplicity and security. It appeals equally to mobile-first younger shoppers and older consumers who value ease of use and reliability. By integrating Bizum, businesses can tap into a vast and diverse customer base.
4. Enhanced security (PSD2)
MultiSafepay ensures full compliance with European payment security regulations, including PSD2. With robust protection against fraud, merchants and customers enjoy peace of mind during transactions.
5. “Keep Cart Alive” technology to reduce cart abandonment
MultiSafepay’s advanced “Keep Cart Alive” feature allows customers to resume their payment process without losing cart content, significantly boosting conversion rates and minimizing lost sales.
How Bizum works for merchants at MultiSafepay
MultiSafepay simplifies the process of activating and integrating Bizum into your checkout. Here’s how:
#1 Activating Bizum
Contact your Spanish bank: Ensure you have a Spanish bank account that supports Bizum and request your Bizum credentials from the bank.
Send credentials to MultiSafepay: Share your credentials with MultiSafepay’s Support Team.
We handle integration: MultiSafepay manages the technical setup for a seamless experience.
Activation complete: Your store is ready to accept Bizum payments!
#2 How Bizum works in checkout
Customer selects Bizum: Shoppers choose Bizum at checkout.
Payment request sent: MultiSafepay forwards the request to Bizum.
Redirect to Bizum: Customers are redirected to Bizum’s interface.
Payment confirmation: Bizum notifies MultiSafepay of the successful transaction.
Funds transferred: Payments are securely transferred to the merchant’s account.
Bizum & MultiSafepay: your gateway to growth in Spain
By integrating Bizum through MultiSafepay, your business gains access to one of Europe’s fastest-growing digital markets. With seamless integration, real-time payments, and broad customer appeal, Bizum is a powerful tool to drive sales and strengthen your position in Spain.
Boost your conversions and connect with millions of mobile-first consumers today. Integrate Bizum with MultiSafepay and start growing now.
