• Revolut announces today its integration with Bizum, the popular Spanish peer-to-peer payment service.
• Together with the recent launch of the Reward Account, Revolut completes its primary banking offering for Spain.
• The company also announces that it has reached 3.5 million customers in Spain, with a 40% growth so far this year.

Revolut, the global financial superapp with over 45 million users worldwide, today announces the integration of Bizum, the popular Spanish peer-to-peer payment service, into its platform. With this addition, and following the recent launch of the Reward Account, Revolut strengthens its offering to become the main bank account for users in Spain. The company also celebrates reaching 3.5 million customers in the country, with an impressive 40% growth year-to-date.

Bizum, with 27 million users and more than 60 million monthly transactions, is the most widely used instant payment service between accounts in Spain. Thanks to its integration into the Revolut app, more than 3.5 million Spanish customers can now send, receive, and request money from their contacts, as well as make payments at associated online merchants, all through Bizum. By combining Bizum's extensive network with Revolut's global reach, users in Spain can now access all the payment functionalities they need in one application, enjoying a unified and simpler banking experience.

How to link Bizum with your Revolut account:

1. Make sure you have the latest version of the Revolut app.
2. Open the app and click on the Bizum icon in the main menu.
3. Confirm your information.
4. Accept the service's terms and conditions.
5. You can now send and receive payments through Bizum.

Ignacio Zunzunegui, Head of Growth for Southern Europe at Revolut, commented: “We are launching Bizum to our more than 3.5 million users in Spain knowing that it is a key service for this market. According to our internal data, about 75% of our users consider Bizum as one of the three essential services when choosing their primary bank. Along with our local IBAN and Reward Accounts, we offer a comprehensive, accessible, and competitive banking solution, positioning ourselves as one of the main entities in Spain.”

Melina Dimoula, Business Development Manager and Head of Local Payment Methods at Revolut, added: “Our product localization strategy is based on offering our users in each country the functionalities they truly need for their daily lives, integrating payment services into our app that meet the local needs of our customers. The integration of payment services such as Bizum in Spain exemplifies our commitment to this mission.”

Strong push to become the primary bank

Bizum joins the catalog of products that Revolut has launched in recent months in Spain, aimed at offering a flexible, transparent, and competitively priced primary banking solution.

Following the migration of all its customers to a Spanish IBAN earlier this year, Revolut recently launched its Reward Accounts with an initial offer for new customers who join before October 31, 2024, offering an annual interest rate (APR) of 3.56% for all, regardless of the plan they subscribe to, until March 2025 (terms and conditions apply). The Reward Accounts allow immediate access to funds, with a maximum interest-bearing balance of €100,000, and no minimum amount required to start saving. For existing customers, interest on deposits is paid daily with the following annual gross rates: 2.02% APR for Standard and Plus accounts, 2.56% APR for Premium accounts, 3.04% APR for Metal accounts, and 3.56% APR for Ultra accounts.

Following the launch of Bizum, Revolut will continue to expand its services and features to establish itself as the primary bank account in Spain and other European markets.

The Reward Account is a demand deposit account. 18+. The reward account offers annual interest paid daily on the reward account balance at the end of each day. The interest rate depends on your plan, ranging from 2.02% (APR) in our Standard plan to 3.56% (APR) in our Ultra plan. Representative example: €100 invested on January 1st with 2.02% (APR)/2% (nominal interest rate) would give €102, of which €2 would be interest, on December 31st, assuming no additional top-ups, withdrawals, or tax withholdings. No maintenance or early cancellation fees apply. More information at https://www.revolut.com/es-ES/legal/savings-account/.