Bizum The deployment of a digital identifier has begun that will simplify the steps to register and make payments, as reported by the platform this Wednesday. This new functionality is already developed by the three main Spanish banks, Santander, BBVA and CaixaBank.
BBVA has carried out a pilot program with the Polytechnic University of Madrid (UPM), which will be activated in the coming weeks and will be joined by Santander and CaixaBank once they make the service available to their customers and businesses. In this way, UPM students will now be able to identify themselves and access a series of university procedures electronically, with all the advantages of the Bizum digital identifier.
The developments of the three entities allow the Bizum digital identifier to be available to millions of users, in addition to businesses and online service providers. The rest of the member entities will gradually incorporate it into their operations, with the aim that Spanish banks play an important role in the development of digital identification services and that this new Bizum functionality can become one of the main methods of identification in Spain.
The Bizum digital identifier is easy to implement on the business’s website or app, especially if it already has online payment integrated with Bizum, as is the case with more than 57,000 businesses currently.
This new functionality will also mean a reduction in operating costs for businesses, since it will eliminate the high costs of verifying new customer information through their own mechanisms, by delegating the registration process to Bizum.
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