Bizum stands out as a landmark project due to the unprecedented collaboration among
several  Spanish banks  in 2016,  where 95% of them  came together  for the first time to
introduce a new unified service. This pivotal agreement was instigated by the European
Central Bank,  which has  been urgently  seeking a standardized  payment system across
the EU before foreign companies like Apple or Google take the lead. Despite other similar initiatives, such as Mobile Pay in Denmark, Paym in the UK, and Swish in Sweden, none have succeeded quite like Bizum has in Spain.

Their growth strategy is closely tied to network economies, whose value experiences exponential growth and directly depends on the consolidation of a broad community of users. Regarding the business model, considering that the primary challenge for such economies is to monetize the service without hindering growth, banks have managed to 
successfully capitalize on it by charging commissions to online businesses that want to offer this payment method. Thanks to Bizum, these businesses have achieved significant increases in their sales. In addition to the commissions, banks are also investing in this project to reduce the use of cash, which poses a major threat to them, especially in Spain.

Among all the alternatives, Bizum is the one most likely to be chosen by the European Central Bank as the new standardized payment method for the EU. This is because it has the highest number of users and is the only one with support from over 60 banks, ensuring its security and smooth operation. Furthermore, one of the main reasons is that Bizum was established in a way that any bank can join, regardless of its nationality, making it easier to extend this payment method across Europe.