Bizum has launched its digital identifier, a system that seeks to simplify the registration process in online stores, without the need to use passwords or provide personal data manually each time we want to make a purchase. Everything will be centralized, the phone number and the bank app.
In addition, this will allow users to manage the permissions granted to other companies on their personal information, being able to see the data they have shared and with the option to revoke it at any time. All of this, they maintain, provides greater privacy to the user and considerably improves their experience.
This new functionality will also mean a reduction in operating costs for businesses, eliminating the high costs of verifying new customer information through their own mechanisms, by delegating the registration process to Bizum.
Furthermore, the company explains that another contribution of this new functionality is to promote the reduction of fraud. This new service will be in charge of validating the information, ensuring the veracity of the data used when making a purchase.
The first to enjoy this new functionality will be the clients and businesses of the Santander, BBVA and CaixaBank banks. From the platform, they remember that the alliance with these three entities makes it possible for the digital identifier to be available to millions of users, in addition to businesses and online service providers.
The rest of the member entities will gradually incorporate it into their operations, “with the aim that Spanish banks play an important role in the development of digital identification services and that this new Bizum functionality can become one of the main methods identification in Spain”.