|
Bizum
Bizum is a payment service provider launched in 2016 as an initiative of the Spanish banking system. History Constituted on 27 June 2016, Bizum was jointly launched by 27 Spanish banking entities, including CaixaBank, BBVA, and Banco Sabadell. Originally an payment system between people (P2P), it later allowed transfers between people and e-commerce and institutions. Bizum joined the European Mobile Payment Systems Association in 2022. In 2024, it had 27.6 million active users. In 2024, Bizum also announced plans to launch Bizum Pay in 2025, allowing for NFC payments. In 2024, Bizum joined forces with Italy's Bancomat Pay and Portugal's MB Way to launch the European Payments Alliance (EuropPA), an agreement that enables inter-operability of payments among clients of Santander, ABANCA and Openbank in Spain, Italy, Portugal, and Andorra starting on 31 March 2025. Shareholders In 2022, the shareholding structure was as follows: * CaixaBank 24% * Santander 20.91% * Banco Sa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Payments Alliance
The European Payments Alliance (EuroPA) is an initiative aiming at developing a unified European payment solution and facilitating the interoperability of mobile payment solutions provided by several firms. It was created in December 2023 by Italian interbank network Bancomat, Spanish mobile payment firm Bizum and Portuguese firm SIBS (which operates the mobile payment service MB Way). Like the European Payments Initiative (which operates Wero), EuroPa's goal is to provide a euro-owned payment system capable of wresting control away from US payment providers. First steps In December 2023, Bancomat, Bizum and SIBS signed a letter of intension in order to create a partnership in digital payment. In November 2024, Bancomat, Bizum and SIBS officially launched EuroPA (European Payments Alliance), a service allowing their respective users and clients to make instant payments using their mobile phones across the three countries (Italy, Spain and Portugal). The three firms also annou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Instant Payment
Instant payment (sometimes referred to as real-time payment or faster payment) is a method of electronic funds transfer, allowing for almost immediate transfer of money between bank accounts. This was in contrast to the previous transfer times of one to three business days that had been in place until the mid-2010s. Since the mid-2010s many countries have implemented instant payment systems that speed up the transfer between bank accounts in response to customer demand for faster transactions. The ''Euro Retail Payments Board'' (ERPB) in 2018 defined instant payments as: History Originally clearing of payments was based on the cheque clearing cycle that required physical cheques to be exchanged by banks at clearing houses for payments to be made between bank accounts. When electronic payments entered the banking systems from the 1970s onwards, the same timeframes and processes were used to settle these electronic payments. The growth of e-commerce since the 2000s has caused ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bancomat (interbank Network)
Bancomat is an Italian interbank network for cash withdrawals widely used in Italy. It was first introduced in 1983 for use with automated teller machines. The network is owned by the Rome-based Bancomat, S.p.A. and its cards are issued by Italian banks. The service is only used in Italy and the word “bancomat” is used in Italy as a synonym for automated teller machine. In 1986, an associated debit card network called PagoBancomat was introduced, which is based on the Bancomat service and is intended for PIN-based POS transactions. Since the Bancomat network is not used outside Italy, almost every Bancomat/PagoBancomat debit card is co-branded with a multinational service, such as Mastercard, Maestro, Visa, Visa Electron or V Pay, for use abroad. A new service called Bancomat Pay was introduced in January 2019. It is intended for electronic payment for online transactions. In December 2023, Bancomat signed a letter of intent with Spanish mobile payment firm Bizum and Port ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
TWINT
Twint is a Swiss mobile payment system rolled out nation-wide in 2017. As of 2024, Twint has become ubiquitous in Switzerland, with practically all stores accepting Twint payments and nearly all banks taking part in the payment system. The app was developed by Monexio, a wholly-owned subsidiary of PostFinance, beginning in 2014. The first banks that cooperated in Twint were the Berner Kantonalbank and Valiant Bank in 2015, joined by the Basler Kantonalbank and Bank Cler in 2016. Twint had approximately five million users at the begin of 2023, out of the seven million adult population of Switzerland at the time. Company History Twint was created by Monexio AG, a company founded in July 2014 as a wholly-owned subsidiary of PostFinance. PostFinance Executive Board member Thierry Kneissler was appointed CEO, while Hansruedi Köng, CEO of PostFinance, became Chairman of the Board of Directors. The company became operational in August 2014. The Pretail, pre-launch of Twint took place ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Blik
BLIK is a Polish mobile payment system launched in 2015. It is operated by Polski Standard Płatności (PSP). Blik enables users to make instant payments online and in retail stores, withdraw cash from ATMs, and transfer money, primarily using their bank's mobile application. As of June 2024, Blik reported nearly 17 million active users. For the full year 2024, it processed 2.4 billion transactions, amounting to a total value of approximately 350 billion Polish złoty (PLN). History Polski Standard Płatności (PSP), a company established by an alliance of six Polish banks, launched Blik in February 2015. PSP is a member of the European Mobile Payment Systems Association. Between 2019 and 2020, Polish Police reported fraud incidents involving Blik ATM withdrawals. These typically occurred when perpetrators gained access to a victim's social media account, requested Blik codes from the victim's contacts under false pretenses for a loan, and then used these codes for cash wi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |