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 companies or self-employed workers.
This application has a limit of up to 1,000 euros per day in sending and 2,000 euros in operations received. In addition, as of June 15, the number of operations received will be limited to 60. However, apart from sending and receiving money from your contacts, it has other qualities that have gone unnoticed by most users.
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 Betting 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 your bank’s mobile application, entering the Bizum section you have the common options to send money and among the others there is one to 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 safely approve the payment on any page associated with this system.
In last place are donations to different NGOs. The positive part is that the total amount of money you decide to donate to an organization will go to them, without losing part of it due to commissions or fees. Bizum has a list of organizations for you to search for the one that interests you, the procedure is the same as for sending money to a friend.
The ultimate goal of the Bizum system is to make it quick, easy and secure to use, which they are currently achieving. 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 carefully.