Reduce the monthly transactions that your users can make from 150 to 60. The change will take effect from June 15

Interface of the Bizum app on a mobile phone.

Bizum, the instant electronic payments platform, will limit the number of operations that individuals and limit monthly transactions to 60 that individuals can do. So far the limit is 150. The limit will take effect on June 15 and affect the more than 15 million users who already use it.

This limit, however, is only indicative, since each bank may establish a lower figure. The reason for making this change is for security policy, as Bizum explained.

Despite the change, the figures regarding the amount of each operation, which will remain at a minimum of 0.50 euros and a maximum of 1,000 euros. The maximum amount of charges for a user may not exceed 2,000 euros per day.

Bizum allows you to make transfers, between individuals and businesses, without needing the account number and in a matter of seconds. Initially it was born as an initiative of several Spanish banks such as CaixaBank, BBVA, Santander, Sabadell and Bankia, among others, who joined forces to advance to the more than foreseeable entry of other operators such as ‘fintech’ and technological companies that have a strong presence in the mobile payment market.

Its evolution has accelerated in the last year, due to the fear of contagions from contact with cash and encouraged by the growth of digital commerce and electronic payments.

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