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Bizum
Bizum is a payment service provider launched in 2016 as an initiative of the Spanish banking system. History Constituted on 27 June 2016, Bizum was jointly launched by 27 Spanish banking entities, including CaixaBank, BBVA, and Banco Sabadell. Originally an payment system between people (P2P), it later allowed transfers between people and e-commerce and institutions. Bizum joined the European Mobile Payment Systems Association in 2022. In 2024, it had 27.6 million active users. In 2024, Bizum also announced plans to launch Bizum Pay in 2025, allowing for NFC payments. In 2024, Bizum joined forces with Italy's Bancomat Pay and Portugal's MB Way to launch the European Payments Alliance (EuropPA), an agreement that enables inter-operability of payments among clients of Santander, ABANCA and Openbank in Spain, Italy, Portugal, and Andorra starting on 31 March 2025. Shareholders In 2022, the shareholding structure was as follows: * CaixaBank 24% * Santander 20.91% * Banco Sa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Payments Alliance
The European Payments Alliance (EuroPA) is an initiative aiming at developing a unified European payment solution and facilitating the interoperability of mobile payment solutions provided by several firms. It was created in December 2023 by Italian interbank network Bancomat, Spanish mobile payment firm Bizum and Portuguese firm SIBS (which operates the mobile payment service MB Way). Like the European Payments Initiative (which operates Wero), EuroPa's goal is to provide a euro-owned payment system capable of wresting control away from US payment providers. First steps In December 2023, Bancomat, Bizum and SIBS signed a letter of intension in order to create a partnership in digital payment. In November 2024, Bancomat, Bizum and SIBS officially launched EuroPA (European Payments Alliance), a service allowing their respective users and clients to make instant payments using their mobile phones across the three countries (Italy, Spain and Portugal). The three firms also annou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Instant Payment
Instant payment (sometimes referred to as real-time payment or faster payment) is a method of electronic funds transfer, allowing for almost immediate transfer of money between bank accounts. This was in contrast to the previous transfer times of one to three business days that had been in place until the mid-2010s. Since the mid-2010s many countries have implemented instant payment systems that speed up the transfer between bank accounts in response to customer demand for faster transactions. The ''Euro Retail Payments Board'' (ERPB) in 2018 defined instant payments as: History Originally clearing of payments was based on the cheque clearing cycle that required physical cheques to be exchanged by banks at clearing houses for payments to be made between bank accounts. When electronic payments entered the banking systems from the 1970s onwards, the same timeframes and processes were used to settle these electronic payments. The growth of e-commerce since the 2000s has caused ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bancomat (interbank Network)
Bancomat is an Italian interbank network for cash withdrawals widely used in Italy. It was first introduced in 1983 for use with automated teller machines. The network is owned by the Rome-based Bancomat, S.p.A. and its cards are issued by Italian banks. The service is only used in Italy and the word “bancomat” is used in Italy as a synonym for automated teller machine. In 1986, an associated debit card network called PagoBancomat was introduced, which is based on the Bancomat service and is intended for PIN-based POS transactions. Since the Bancomat network is not used outside Italy, almost every Bancomat/PagoBancomat debit card is co-branded with a multinational service, such as Mastercard, Maestro, Visa, Visa Electron or V Pay, for use abroad. A new service called Bancomat Pay was introduced in January 2019. It is intended for electronic payment for online transactions. In December 2023, Bancomat signed a letter of intent with Spanish mobile payment firm Bizum and Port ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
TWINT
Twint is a Swiss mobile payment system rolled out nation-wide in 2017. As of 2024, Twint has become ubiquitous in Switzerland, with practically all stores accepting Twint payments and nearly all banks taking part in the payment system. The app was developed by Monexio, a wholly-owned subsidiary of PostFinance, beginning in 2014. The first banks that cooperated in Twint were the Berner Kantonalbank and Valiant Bank in 2015, joined by the Basler Kantonalbank and Bank Cler in 2016. Twint had approximately five million users at the begin of 2023, out of the seven million adult population of Switzerland at the time. Company History Twint was created by Monexio AG, a company founded in July 2014 as a wholly-owned subsidiary of PostFinance. PostFinance Executive Board member Thierry Kneissler was appointed CEO, while Hansruedi Köng, CEO of PostFinance, became Chairman of the Board of Directors. The company became operational in August 2014. The Pretail, pre-launch of Twint took place ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Blik
BLIK is a Polish mobile payment system launched in 2015. It is operated by Polski Standard Płatności (PSP). Blik enables users to make instant payments online and in retail stores, withdraw cash from ATMs, and transfer money, primarily using their bank's mobile application. As of June 2024, Blik reported nearly 17 million active users. For the full year 2024, it processed 2.4 billion transactions, amounting to a total value of approximately 350 billion Polish złoty (PLN). History Polski Standard Płatności (PSP), a company established by an alliance of six Polish banks, launched Blik in February 2015. PSP is a member of the European Mobile Payment Systems Association. Between 2019 and 2020, Polish Police reported fraud incidents involving Blik ATM withdrawals. These typically occurred when perpetrators gained access to a victim's social media account, requested Blik codes from the victim's contacts under false pretenses for a loan, and then used these codes for cash wi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Mobile Payment Systems Association
The European Mobile Payment Systems Association (EMPSA) is an association that aims to foster collaboration and to enable the use of different mobile payments systems internationally. EMPSA is headquartered in Zurich, Switzerland and chaired by Søren Mose, the Chairman of the TWINT Board of Directors. History and future plans European Mobile Payment Systems Association was founded on 3 September 2019. In January 2022 EMPSA demonstrated a working system where test users of TWINT could pay in selected shops in Austria accepting Bluecode. Members EMPSA was founded by seven mobile payment Mobile payment, also referred to as mobile money, mobile money transfer and mobile wallet, is any of various payment processing services operated under financial regulations and performed from or via a mobile device. Instead of paying with cas ... providers, including the three Scandinavian providers which at that time had more than half their population as users. Eight more providers have j ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sociedad Limitada
A private limited company is any type of business entity in "private" ownership used in many jurisdictions, in contrast to a publicly listed company, with some differences from country to country. Examples include: the ''LLC'' in the United States, ''private company limited by shares'' in the United Kingdom, ''GmbH'' in Germany and Austria, (BV) in The Netherlands and Belgium, (SARL) in France, (S.r.l.) in Italy, and (SRL) in the Spanish-speaking world. The benefit of having a private limited company is that there is limited liability. Abbreviations Albania In Albania, a limited liability company () is a commercial company founded by persons of physical or judicial status, who are not liable for the company and personally bear losses only up to the outstanding contribution agreements. Partners' contributions constitute the registered capital of a limited liability company. Each partner has his quota in the company in proportion to the contribution of the capital so th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cajamar Cooperative Group
The Cajamar Cooperative Group () is the largest grouping of agricultural cooperative banks () in Spain, with origins in the establishment in 1966 of ''Caja Rural de Almería'', rebranded in 2000 as ''Cajamar Caja Rural''. Whereas Cajamar Caja Rural remains the group's most significant component, its national entity is ''Banco de Crédito Social Cooperativo, SA'' (''BCC''), a Madrid-headquartered bank established in 2014 by Cajamar Caja Rural and 31 other local agricultural cooperative banks. BCC has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank. BCC acts as a central entity serving the financial needs of the local cooperative banks which together form the Cajamar Group. The Cajamar Cooperative Group was designated by the Bank of Spain as an institutional protection scheme, with the BCC as head entity. Under that arrangement, the individ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ibercaja Banco
Ibercaja Banco, S.A., stylised as iberCaja, is a Spanish financial services company based in Zaragoza. It was created by the Caja de Ahorros and Monte de Piedad of Zaragoza, Aragón and Rioja ( Ibercaja) in 2011, to develop its financial activity, being initially the shareholder of 100% of the bank. After the acquisition of Caja3 by Ibercaja Banco, in the process of banking restructuring in Spain, 87.8% was owned by Ibercaja and 12.2% by the three Caja3 shareholders (Caja de Badajoz, Caja Inmaculada and Caja Círculo). Together with the General Deputation of Aragon, owns the company ''Montañas de Aragón'' which controls the ski resort Aramón. Ibercaja has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank. See also * List of banks in Spain This is a list of banks in Spain. Spain has 10 banking groups that are directly supervised by the Eu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankinter
Bankinter, S.A. (), is a Spanish financial services company headquartered in Madrid. It has been listed on the since 1972, and is part of the Ibex35 Index. It was founded in 1965 as an industrial bank through a joint venture between Banco Santander and Bank of America. Bankinter has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank. History Bankinter was founded under the name ''Banco Intercontinental Español'' in June 1965 as an industrial bank through a joint venture by Banco de Santander and BankAmerica. In 1972 the bank became fully independent of its founders and transformed itself into a commercial bank. In 1993, the bank embarked up on a growth strategy with Banca Partnet and Red Agencial. In the same year, it became the first digital bank, following the successful introduction of electronic banking. In 2006, the brand was transf ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Abanca
ABANCA Corporación Bancaria, S.A. is a Spanish bank based in Galicia. It was created in September in 2011 following the "bankisation" of Novacaixagalicia savings bank. It operates in the autonomous communities of Galicia, Asturias and the province of León, in other parts of Spain and in Portugal, as well as offices in the UK, Germany, France, Switzerland, Brazil, Venezuela, Panama, Mexico and the USA. Abanca has been designated as a significant institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank. History Formation of NovaCaixaGalicia Bank Formerly NCG Banco, S.A., which traded as Novagalicia Banco, was created in September 2011 following the bankisation process of Novacaixagalicia. Abanca originated from the savings bank NovaCaixaGalicia, established on December 1, 2010, following the merger of Caixa Galicia and Caixanova. This formation was a response to the stip ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
