FirstBank has launched a person-to-person (P2P) payments system as the newest tool in its mobile banking application, allowing its customers to send and receive money via their mobile devices.

The Colorado-based lender will offer the service in collaboration with clearXchange, a P2P payments network in the US, becoming the fourth member to join the network.

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Addition of clearXchange will allow the bank customers to send payments from their existing FirstBank account using the recipient’s mobile number or e-mail address without fetching any sensitive account information.

Mike Kennedy, CEO of clearXchange, said: "With clearXchange, FirstBank provides customers with a seamless and secure person-to-person payments solution, making it easier to send money to family and friends. We are excited to add FirstBank’s customers to our national network."

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