Jiffy, the service developed by SIA to send and receive money in real time from smartphones, has exceeded 400.000 registered users. The average value of a single transaction is 53 euros, while transfers below 25 euros represent 42%.
23 banking groups have joined the SIA "Person to Person" (P2P) payment service since it was launched on the Italian market. Jiffy is currently available to account holders of BNL, Banca Popolare di Milano, Cariparma, Carispezia, Cassa Centrale Banca, Che Banca!, Fr iuladria, Carige Group, Hello bank!, Intesa Sanpaolo, Banca Mediolanum, Monte dei Paschi di Siena, Banca Popolare di Vicenza, UBI Banca, UniCredit, Webank and Widiba.
Jiffy will soon be available also for Banca Popolare di Sondrio, Raiffeisen, Veneto Banca and Volksbank Banca Popolare.
Once all credit institutions have been activated, the service will therefore be usable by over 32 million Italian current accounts, equal to over 80% of the total.
PILOT PHASE IN MILAN AND BERGAMO FOR PAYMENTS IN STORES
After the "Person to Person" money transfers, Jiffy is now also available for payments in shops. In fact, the pilot phase of the “Person to Business” (P2B) project has started in the cities of Milan and Bergamo, which allows customers to pay by smartphone at UBI Banca merchants.
Being based on a SEPA bank transfer, Jiffy is open to all credit institutions operating in the Single Euro Payments Area, potentially usable by over 400 million European current account holders.
HOW JIFFY WORKS
Thanks to Jiffy, to transfer money, all you have to do is select the recipient from your smartphone's personal address book, enter the amount, any message and with a click, the money is immediately sent and can be used immediately by the beneficiary.
To activate Jiffy you need to register on your Bank's website and download the App provided by the Bank itself.
