Fiserv is going to integrate the P2P
payment networks Zashpay and Popmoney and sell the service under
the Popmoney name from this summer on.
The resulting network will connect 1,400
financial institutions and reach 35m consumers from both online and
mobile banking, Fiserv estimates. This network includes Citibank,
PNC Bank, Regions Bank, Fifth Third Bank and BBVA Compass as
clients.
Go deeper with GlobalData
Fiserv had acquired the brand Popmoney from
CashEdge in September 2011.
Popmoney will also be integrated into
Fiserv’s CheckFree RXP payment portal, which has a distribution
network spanning 3,600 financial institutions.
Popmoney will be the largest financial
institution-centric P2P service in the industry, Fiserv
claimed.
Sanjeev Dheer, division president, Fiserv,
said:
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By GlobalData “The combination of Popmoney and
ZashPay will accelerate the momentum underway in bank-focused
person-to-person payments. Consumers strongly prefer the
convenience of their banking relationship for conducting these
types of transactions. The expanded network enhances the usability
of the service and accelerates adoption among consumers and small
businesses.”
