Bizum is a payment service provider in Spain , the result of the collaboration of 34 banking entities in the country , to create an instant payment system between individuals and purchases in stores. Created in 2016, Bizum is owned by the company Sociedad deprocedures de Pago SL, established on June 27 of that year in Madrid. The service allows payments to be made between users using the mobile application and knowing only the recipient's telephone number, for amounts between 0.50 and 500 euros per operation. The maximum amount of operations received per client in one day is 2000 euros. At the end of 2018, it already had 2.5 million users who had transferred around 700 million euros through the platform. In the first quarter of 2022, it already had 19.6 million users.