SIA bids to take Jiffy P2P payments service to Germany

SIA bids to take Jiffy P2P payments service to Germany

Italian payments processor SIA is teaming up with GFT Technologies to push its Jiffy mobile person-to-person money transfer service in Germany.

Launched in Italy a year ago, Jiffy is a P2P payments service which lets users send and receive money in real time on their handsets to and from their phone contacts.

Having signed up some 50 banks in its home market, SIA is now hoping to take advantage of the fact that Jiffy is based on Sepa credit transfers, meaning it is open to all FS firms operating in the Single European Payment Area.

The processor has a potential market of more than 400 million European current account holders but is initially targeting Germany "because here are still no signs of a P2P payment service which can be easily used throughout" the country.

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