Gruppo Veneto Banca Activates Jiffy on Its Bankup Mobile Banking App

  • Mobile Banking
  • 02.12.2016 10:15 am

From today, customers of Veneto Banca and its subsidiary Banca Apulia have at their disposal a new “Person to Person” (P2P) payments service that is secure, simple and extremely fast - “Jiffy” - a word which refers to the unit of measurement corresponding to the time it takes for light to travel one centimeter.

Jiffy permits users to send or receive cash in real time with the contacts stored on their smartphone. For customers of Gruppo Veneto Banca, the service is available on the BankUp Mobile Banking App. Via the “Invia Denaro” (send money) button in the menu, the debit or credit takes place on the current account instantaneously and in absolute security, without the need to remember and copy in the IBAN code. The BankUp Mobile Banking App is available for smartphones with iOS, Android and Windows Phone operating systems.

The Jiffy digital payment system, developed by SIA, can be used in a wide range of situations, like paying one’s share of the check at a restaurant to a friend, contributing to a collection for a gift, sending cash to a relative or someone studying far away from home, giving "pocket money" to the kids, etc.

23 banking groups have already subscribed to Jiffy and starting to use it couldn’t be simpler. Via the Clarisbanca home banking portal or the BankUp Mobile Banking App, Veneto Banca and Banca Apulia customers give the mobile phone number to be used to send and receive cash and the system associates the IBAN code to this number. Jiffy will then be available on the smartphone with BankUp Mobile Banking, just as with WhatsApp and other similar services: the user simply selects the payee, enters the amount and a message if desired, and clicks to send.

“By offering the new Jiffy service to its customers – states Oreste Felice Invernizzi, Head of Veneto Banca’s Market Department – our Group confirms its place among the most technologically advanced banks in the domestic arena. We have been investing for some time in reassessing and updating our entire retail offering, with a focus on digital services which allow us to offer new opportunities and increasingly competitive services”.

“With Veneto Banca, Jiffy reaches even further, confirming its status as a system solution, available to over 80% of domestic current accounts, and interoperable within the eurozone”, commented Nicolò Romani, Head of SIA Innovation Lab. “We will continue investing in Jiffy and expanding the possibilities for its use: indeed, in addition to sending and receiving cash in real time between individuals, it is also already possible to make payments in certain stores and soon to Public Administration bodies and for e-commerce purchases”.

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