From 2025 onwards, platform users MB Way will be able to make instant bank transfers between Portugal, Spain and Italy. The service, launched by Sociedade Interbancária de Serviços (SIBS) in 2015, will expand internationally thanks to a partnership with the platforms Bizum, from Spain, and ATM, from Italy.
Created to facilitate mobile transactions, MB Way is one of the most popular digital services in Portugal, where it already allows payments and transfers in real time. With the new project, the application will also connect the three countries, offering instant international transfers between local banks.
The expansion of the service was presented by SIBS at the Web Summit, this Wednesday, November 13, when it carried out the first international transfer between MB Way, Bizum and Bancomat. “We formed the partnership at the end of last year and, in less than a year, we were able to launch the first transactions, which is a sign of great speed and execution capacity”, declared Madalena Cascais Tomé, CEO of SIBS.
The expansion is part of the EuroPa (European Payment Alliance) initiative, which aims to integrate the payment solutions of the three countries with the European infrastructure. According to SIBS, the system will allow transactions of up to ten seconds between users of the services, offering speed and efficiency in sending money.
Initially, the functionality will be limited to bank transfers, meaning users will not yet be able to make payments with QR codes or contactless technologies at establishments in Spain or Italy through MB Way. SIBS said it is working to integrate these features in the future, aiming for a complete experience for consumers across the region.
“The goal is to enable users to make instant payments between people, using only their mobile devices and their preferred payment platforms,” the company said.
With European integration, the platform anticipates a growing demand for more accessible and secure digital solutions for transactions between countries.
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