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Fiserv signs up over 100 financial institutions for P2P payment service |
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Fiserv, Inc., a company that provide financial services technology solutions, has said that it has signed up over 100 financial institutions, including banks and credit unions, to offer ZashPay, its person-to-person (P2P) payments service. ZashPay enables consumers to send or receive money using their existing online bank account. Consumers whose financial institutions do not offer ZashPay will be able to use the service by visiting the ZashPay website.  “They key to the success of P2P payments is simplicity and ubiquity,” said Erich Litch, senior vice president and general manager, Consumer Services, Fiserv. The ZashPay service is initially available to institutions using the CheckFree RXP online bill payment platform, and other financial institutions will be able to connect to the network through web services. ZashPay users can send money to anyone, regardless of the recipient’s financial institution relationship. Fiserv said that by using an e-mail address or mobile phone number, consumers will be able to repay a friend, contribute to a fundraiser, pay team dues, pay allowances or even pay the babysitter. Payments made using ZashPay will be delivered in as little as one business day and confirmation of payment will be sent to the recipient’s e-mail address or mobile number. Payments will be securely processed through the Fiserv online payment network, which in 2009 processed 1.35 billion online bill payments for more than 3,100 financial institutions. |
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