Deutsche Bank has announced the integration of Bizum, a widely used Spanish mobile payment solution, into its services for corporate clients.
With this move, Deutsche Bank becomes the first international bank to offer Bizum as a payment method, according to Finextra.
This partnership aims to provide foreign multinationals operating in Spain, as well as local businesses with virtual POS services through Deutsche Bank, the ability to accept Bizum payments in their online stores.
The collaboration represents a major expansion for Bizum beyond its existing markets of Spain and Andorra, reinforcing Deutsche Bank’s commitment to offering innovative and accessible payment solutions.
Deutsche Bank is a major global financial services provider, offering banking, investment, and corporate solutions to clients worldwide.
Its Corporate Bank division focuses on supporting businesses with cash management, trade finance, and working capital solutions. Meanwhile, Bizum is a fast, secure, and convenient mobile payment service that has become a market leader in Spain and Andorra, widely adopted for its simplicity and speed in processing transactions.
By integrating Bizum, Deutsche Bank enables businesses worldwide to benefit from a streamlined payment experience.
More than 28.5m users and approximately 3.75bn transactions have been processed via Bizum.
The platform’s efficiency, allowing payments to be made in an average of just 22 seconds using a mobile phone number as identification, has made it particularly popular for e-commerce, recurring payments, subscriptions, and donations.
Michel Ahnine, head of corporate cash management for Southern Europe and France at Deutsche Bank’s corporate bank division, said, “This project is a testament to the close collaboration and synergies that arise between the bank’s areas, consolidated in our Global Hausbank model. We thank everyone involved in its implementation because in this way we can continue to support our clients in the evolution of their business model by introducing new payment methods that they did not have until now.”
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