Bizum
Spain's instant person-to-bank payment app, increasingly used to speed up microcrédito payouts and repayments.
Bizum is a real-time payment service built by a consortium of Spanish banks, letting users send and receive money instantly using just a mobile phone number linked to a bank account — no card details or IBAN required for everyday transfers. It is not a bank or a lender itself; it is a payment rail that sits on top of an existing Spanish bank account.
A growing number of Spanish microcrédito providers now offer Bizum as a disbursement and repayment option alongside standard SEPA transfer, because it can land funds in a borrower's account within seconds rather than the hours a SEPA transfer can take. It does not change the loan's TAE, ASNEF check, or regulatory status — it only affects how quickly money moves once a loan is approved.