Italy’s Bancomat debit network adds Jiffy P2P

Italy’s domestic debit network Bancomat is integrating the country’s Jiffy P2P service to expand mobile payment services to 37 million bank customers.

Bancomat, a consortium of Italian banks that operates the country’s ATM network, is adding the Jiffy digital payment service so users of the PagoBancomat debit cards may transfer money to friends and family and shop online through a mobile app, Bancomat said in a Tuesday press release.

The Italian payments processor SIA developed the Jiffy platform. More than 130 Italian banks already use the Jiffy P2P service, the release noted.

“The strategic agreement with Bancomat and the significant digital transformation of the payment instrument most widely used by Italians represents the completion of a path in the design and implementation of innovative services started up by SIA many years ago alongside the Italian banking system,” said Nicola Cordone, SIA’s deputy CEO, in the release.

The service is expected to go live this fall, connecting users to about 2,000 participating merchants, the release said.