Bizum does not stop growing and has already become our favorite way to settle accounts with friends, make purchases online or the perfect solution to receive payments for all businesses that have decided to digitize and offer their products through the Internet in the latter time. If you only use Bizum to receive or send money, you may still not know that you can create a Bizum key and a Bizum QR to perform certain actions.
Bizum is not a proprietary application like PayPal can be. It is a system for sending payments through the mobile application of our bank. There are many ways to send or receive money through our mobile, but Bizum is one of the most chosen by users.
Uses of the Bizum key
With the Bizum password you can make online payments at all associated businesses. It is a unique password made up of 4 digits that you can modify whenever you want. There are currently 26 banks that offer e-commerce payment. If your bank has the ability to make payments for online purchases, creating the Bizum password is very simple: just enter your bank’s application and create it in the corresponding section.
The Bizum password can be changed at any time just like the PIN of a card. You can also manage the change through your bank’s app. But most importantly, what is it for? The Bizum password is used to make online purchases at merchants that have the Bizum payment button activated. The operation is simple, at the time of finalizing the purchase we will have to choose the option of “Pay with Bizum”, enter our telephone number and finalize the purchase in the application of our bank by entering the Bizum password.
If your bank does not offer you the possibility of generating a Bizum key, it will mean that payments are still working in electronic commerce. Another possibility is that some banks allow you to complete payments with Bizum directly in your application. In the latter case, you will only have to enter the phone number at the time of payment and you will receive a notification from your bank to complete the process in the application. Finally, we must bear in mind that, if we change banks, the Bizum password is not updated and we will have to obtain a new one.
Utilities of QR Bizum
Bizum is currently preparing payments with QR codes. At the moment it is only possible to make payments with QR Bizum in State Lottery and Betting Administrations. And this is precisely the main difference with the Bizum key. The QR Bizum is a dynamic code, that is, each time we carry out an operation a new QR code is created only valid for said operation. In addition, they have a validity period that never exceeds 15 minutes. If this time is exceeded, the code will expire and we will have to generate another one.
There are two ways to generate a Bizum QR code: from our bank application or from the Bizum application. In the first case, we will have to go to the Bizum section of the banking app and select the “QR Bizum” option. At the moment a QR will be generated that you can use for the operation. In the second case, you will have to go to the settings section within the Bizum app to generate the QR code. Once generated we can both pay bets and collect prizes.The moment we want to pay a bet at the seller, it will read the QR code and in a few seconds you will receive a notification in your banking application or in the Bizum app to finalize the payment. Once the payment is completed, both we and the seller will receive a confirmation that the payment has been made correctly. When it comes to awarding a prize, the operation is the same.