Italian payments processor SIA is extending its Jiffy mobile person-to-person money transfer service to in-store payments.
The firm has teamed up with local bank UBI Banca to pilot the service in Milan and Bergamo, allowing customers to pay via app at participating retailers.
Customers identify a merchant via the Jiffy app using geolocation, store search or directly at the point of sale by scanning the QR Code. Then to make a purchase, they enter the amount to pay and activate the cash transfer operation with a click.
The merchant sees the payment in real time, checks the amount and confirms the transaction, with immediate availability of the sum on the current account.
SIA has also teamed up with Ingenico on plans to enable payments straight from customers' phones to store POS terminals.