Bizum begins to displace cash as a payment method and consolidates itself as the first option among those under 45 years of age

Making a Bizum has become a recurring action among Spaniards. Split the bill dinner, pay off a debt with friends or family members, paying in establishments… This payment method is already part of everyday life and even threatens to displace cash. Although banknotes and coins still predominate in transactions between individuals, their use is increasingly reduced and remains on the decline for the sake of instant transfers, which They begin to displace physical money.

According to the ‘Study on habits in the use of cash’ prepared by the Bank of Spain (BdE), paper money appears as the method of most common payment for 57% of the populationten percentage points lower than those recorded last year, a decline that channels, precisely, Bizumgoing from 28% to 37%. Bank transfers are placed in the background, representing 2% of total transactions.

However, this behavior cannot be extrapolated to all age groups. those under 45 years of age being the segment Bizum is among the most widespread, especially if you have university studies. In contrast, It is the group of those over 55 years of age and basic studies among which the use of cash is more widespread, with convenience, habit and spending control being the main reasons.

The document highlights the trend towards the progressive reduction of cash, given that only half of Spanish households have the Just enough cash to cover day-to-day expenses. Twelve months ago the proportion was 56%. On the other hand, the number of people who have physical money in case of unforeseen events is surprising, increasing from 29% to 32%. while 8% keep savings at home as an alternative to banks.

Small businesses and hospitality

The other side of the currency is represented by small businesses and the hospitality industry, among which a higher level of card acceptance and, above all, payment with mobile devices is observed. From a sample of 1,594 personal interviews, it is deduced that in more than four out of every ten establishments the bulk of operations are carried out with card or other means, while the proportion in which cash is the majority decreases (30%).

In this context, citizens mostly resort to cash in physical establishments on a daily basis, despite the decline experienced, in line with the percentage of those who use the cardwhile the number of people who use mobile devices daily grows, with vertical growth from 2022. In this sense, the ‘smartphone’ advances as the main means of payment four points from 11 to 15%, being 57% in the first case, with a two point cutoutand 27% in the second, which lost positions from 30%.

The report detects the greatest concern about the control of expenses and privacy, in terms of digital payments, something that contrasts with the insecurity and discomfort that citizens perceive when to afford certain payments if they use cash instead of electronic formats. These responses reveal an increase in the number of citizens who do not use cash or cards at least once a week, and make the mobile device the winner.

In 2024, Bizum recorded almost 1,100 million transactions with an associated value that exceeded 44,206 million. Looking ahead to 2025, the prospects of the platform headed by Angel Nigorra They aim to reach 30 million users, compared to the 28 recorded at the end of last year, as well as reaching 1,150 million transactions between individuals and more than 100 million payments in electronic commerce.