Questions about JIFT
What is JIFT?
JIFT is a European payment service that enables instant, chargeback-free merchant payments via SEPA-Instant and Open Banking. It works by displaying a QR code on a customer display, which the customer authorizes using their existing banking app with Face-ID or fingerprint. The service requires no physical terminal and supports over 3,000 banks, emphasizing minimal fees and immediate settlement for merchants.
How does JIFT handle chargebacks and bank compatibility?
The service operates with minimal fees and explicitly states there are 0% chargebacks. It is compatible with more than 3,000 banks across Europe, including Sparkasse, Volksbank, N26, Deutsche Bank, ING, Commerzbank, DKB, Postbank, and comdirect.
How can a merchant get started with JIFT?
To get started, merchants can join the waitlist or view a live demo. The service requires only an IBAN and has no contract binding, making it a contract-free alternative to traditional card processing.
What is the step-by-step process for a JIFT payment?
The payment process at a physical checkout involves four steps: the merchant enters the amount, a QR code appears on the display, the customer scans it and authorizes via Face-ID, and the display turns green upon confirmation. In webshops, the customer selects JIFT at checkout, chooses their bank, and confirms with Face-ID.
What specific features does JIFT offer for different business types?
JIFT is designed for physical checkouts and webshops, allowing merchants to process payments without needing a separate terminal. It is compatible with over 3,000 banks and operates on the SEPA-Instant infrastructure.
What technical requirements and compliance standards does JIFT meet?
The service requires only an IBAN to initiate a payment and does not need a physical terminal. It also highlights that it is datensparsam (data-sparing) in compliance with GDPR (DSGVO).
What is the current development status of JIFT?
JIFT is described as a 'Productkonzept in Vorbereitung' (product concept in preparation), meaning the service is currently being introduced to the market. The website notes that regulatory details will be finalized before the market launch.
Where is JIFT located and what is its regional focus?
The service is marketed as 'Made in Europe' and aims to provide a streamlined solution for the European trade, both online and at physical checkouts.
How does JIFT compare to traditional payment methods like bank transfers?
The website mentions that over 10 million people already pay via bank transfer, positioning JIFT as a modern evolution of this common payment method.
Are there any costs or contracts required to use JIFT?
The service emphasizes that it is 'Kostenlos & unverbindlich' (free and binding-free) to join, with no contract required for merchants to begin using the system.
How can potential users contact JIFT for support?
The website provides a contact email address, hello@jift.eu, for inquiries and support regarding the service.
What are the settlement and payout times for JIFT transactions?
The service claims to offer 'Sofort-Auszahlung' (immediate payout) and '24/7 Sofort-Auszahlung' (24/7 immediate payout), ensuring funds reach the business account immediately upon authorization.
What specific banking infrastructure does JIFT rely on?
The website states that the service is based on SEPA-Instant and requires only an IBAN, avoiding the need for additional hardware or complex integrations.
What is the official website of JIFT?
The official website of JIFT is jift.eu.
Does JIFT have reviews on Trustburn?
JIFT has no reviews on Trustburn yet. Anyone who has used it can write the first review on its Trustburn page.
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JIFT provides account-to-account instant payments via open banking for use at physical checkouts and in webshops. Merchants enter the amount, a QR code appears on the customer display, and the customer authorizes the payment in their banking app using Face-ID, so the funds reach the business account immediately. The service is based on SEPA-Instant, requires only an IBAN, and operates with minimal fees and no chargebacks. It is compatible with more than 3,000 banks across Europe, including Sparkasse, Volksbank, N26, Deutsche Bank, ING, Commerzbank, DKB, Postbank, and comdirect.
- Website
- jift.eu
- hello@jift.eu
- Categories
- Information technology and services, Banking