📢 EU: The Era of Instant Cross-Border Transfers Begins with Bancomat, Bizum, MB Way, and Sibs Iberia

📢 EU: The Era of Instant Cross-Border Transfers Begins with Bancomat, Bizum, MB Way, and Sibs Iberia

This means that users in Italy 🇮🇹, Portugal 🇵🇹, Spain 🇪🇸, and Andorra 🇦🇩 can now send and receive money in real-time using only their mobile phone numbers.

➡️ Goal: To build a robust European infrastructure for instant payments and reduce dependence on international card networks.

➡️ The service integrating these local platforms is called EuroPA, and it already connects 50 million users and 186 financial institutions.

➡️ All banks across the four countries are expected to be fully integrated by June this year.

➡️ Bancomat, Bizum, and MB WAY are the leading mobile payment solutions in their respective countries, with over 2 billion transactions processed in 2024, representing more than 65% of all instant payments in those regions.

#news #Europe #p2p

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