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ING will maintain its commitment to Twyp after its integration into Bizum at the end of July

ING sources confirmed that the entry into Bizum will not mean the end of Twyp. ING Bank said that the two services are “complementary”, despite their overlap in the business of ‘payment among friends’. The closing of the agreement with ING implies a new step forward in the growth of Bizum, which closed 2019 with more than 60 million operations, with an associated volume of 2.7 billion.



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ING has finally entered the Bizum platform, the instant mobile payment application of which the rest of the large Spanish banks were already part. The key question now is what will happen with Twyp, the tool with which both customers and non-customers of the entity can also send cash to friends or family.

Find out more details about the integration of Bizum into ING services and read the latest financial headlines with our companion app Born2Invest.

Bizum and Twyp will both function in parallel

ING sources confirmed that the entry in Bizum will not mean the end of Twyp, an application that the bank will keep despite the fact that its most demanded service, sending money, can now be ‘cannibalized’ by the agreement with the fintech company. “We are going to keep Twyp, where we already have about 850,000 users. We see it as a complementary service,” explained the entity.

In this sense, ING Bank said that Twyp offers other services to its users such as prepaid cards and mobile payment, in addition to the possibility of withdrawing cash in a network of more than 22,000 shops that have joined the application, including chains such as Dia, El Corte Inglés, Hipercor, Galp, Shell and Disa gas stations or ONCE points of sale. All these services are available to users over 14 years old.

ING’s decision to join the Bizum platform comes after years of negotiations between both parties and leaves a huge growth potential for the platform with which most banks in the country already allow sending money between clients.

Specifically, ING opened the door to Bizum to its more than 4 million clients whom the bank had at the end of March, almost 3% more than a year before, after adding 115,334, according to its last quarterly accounts.

According to Bizum’s data, member banks already represent a market share of over 96%, excluding ING.

For Luis González Soto, director of ING’s Daily Banking, this agreement “is another example of our commitment to offer our clients the best service, specifically in this case, the best payment experience. In this way, our clients will be able to join the benefits of Bizum in an increasingly digital and immediate world, while continuing to enjoy our own digital channels and solutions that help them in their day-to-day work, such as our App or as Twyp.”

Growth figures for Bizum

The closing of the agreement with ING implies a new step forward in the growth of Bizum, which closed 2019 with more than 60 million operations, with an associated volume of 2.7 billion.

Its number of users at the end of December amounted to 6.25 million, an increase of 145% throughout the year with an average of 18,000 daily registrations.

For its part, the average amount moved by Bizum has gone from $59.5 (€52) on average in 2017 to $52.7 (€46) in 2019, which shows that it is a system that is increasingly used for the payment of small amounts of money between users.

Now Bizum will be able to add new clients from ING, a certain respite after the cold water jar that has meant that it has not been the platform chosen by European banks for the future launch of the European Payments Initiative (EPI), announced at the beginning of July and expected to be launched in 2022. 


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J. Frank Sigerson is a business and financial journalist primarily covering crypto, cannabis, crowdfunding, technology, and marketing. He also writes about the movers and shakers in the stock market, especially in biotech, healthcare, mining, and blockchain. In the past, he has shared his thoughts on IT and design, social media, pop culture, food and wine, TV, film, and music. His works have been published in,, Seeking Alpha, Mogul, Small Cap Network, CNN,, among others.