MB Way transfers to Spain, Italy now possible
"The MB Way connection to Spain and Italy is now operational, allowing MB Way users to send and receive money instantly to Bizum and Bancomat mobile phone numbers, respectively," SIBS said.
MB Way users can now make instant transfers to Spain and Italy, to Bizum and Bancomat mobile phone numbers, respectively, the payment company SIBS, which owns MB Way, announced on Monday.
“The MB Way connection to Spain and Italy is now operational, allowing MB Way users to send and receive money instantly to Bizum and Bancomat mobile phone numbers, respectively,” SIBS said in a statement.
The electronic payments company indicated that, in Portugal, this functionality is already available to institutions that already have MB Way P2P transfers in SEPA Inst.
In Spain and Italy, the integration of institutions and users of the respective solutions will take place gradually until June.
At the end of 2023, the payment services companies SIBS, Bancomat (Italy) and Bizum (Spain) announced a partnership for interoperability, with the aim that in the medium term their users would be able to make instant payments to each other.
Last November, the MB Way system made its first international transfers with these two European counterparts.
After those transfers, SIBS predicted that, from 2025, this service would be “widely available, initially in Italy, Portugal and Spain”, but with the possibility of expansion.
These three payment operators together have more than 45 million users and represent more than 182 financial institutions.