The most powerful southern European companies in the field of direct mobile payment are joining forces. The three Spanish, Italian and Portuguese instant mobile payment companies: Bizum, Bancomat Pay and MB Way, respectively, signed a letter of intent.
In the letter, they explain their intention to implement their interoperability for peer-to-peer payments next year. This was reported this Thursday through a press release. All three brands are used by 42.7 million users and these users have made over 1,470 million transactions so far this year.
The three companies are not closed to the entry of other European payment solutions, a union that could become the construction of a pan-European payments market relying on interoperability, according to El Economista.
“The wide acceptance by users of digital payment methods is an indisputable phenomenon. An example of this is Bizum in Spain, with more than 25 million users, where making a bizum is already part of the normal language of citizens”, said the general director of Bizum, Ángel Nigorra.
The objective of the Spanish brand is to “create a solution that satisfies all the needs of daily payments and collections of European citizenswhatever your country of origin.”
At Bancomat, CMO Oscar Occhipint emphasized that “this is the right way to create a truly pan-European alternative network to increase transactions and usage of SCT-INST (instant payment transfers).
For her part, Madalena Cascais Tomé, CEO of SIBS, highlighted “the interoperability between European mobile payment solutions Unlock the potential of SEPA instant payments and lays the foundations for truly efficient and innovative pan-European payments. »