Fiserv has agreed a deal
with Visa that will enable ZashPay users to send money to and
receive money from eligible Visa account holders through their
primary financial institution.
Fiserv, the
Wisconsin-headquartered end-to-end business and technology solution
provider, launched its ZashPay person-to-person (P2P) payments
service last July.
Go deeper with GlobalData
The agreement with Visa will open up the
ZashPay network to up to 1bn Visa account holders and will also
increase the speed of many payments.
Fiserv and its bank partners will also
have the ability to extend P2P payments to eligible international
account holders.
Erich Litch, division president, Digital
Channels, Fiserv, said:
“More than 700 financial institutions have
signed up to offer ZashPay, and the service is already live at 500
banks and credit unions.
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By GlobalData“Working with Visa allows us to deliver
payments to even more consumers, more quickly and deepens the
relationship that member financial institutions have with their
customers.
“We’re committed to making the ZashPay
network the largest and fastest personal payment network, providing
the convenience and speed that financial institutions, consumers
and small businesses demand in order to drive adoption and
usage.”
Matt Dill, head of Personal Payments and
Digital Money Transfer, Visa, said:
“The exact same Visa card you pull out of
your wallet to make purchases at the point-of-sale can now be used
to receive a payment from a friend or family member.”
The ZashPay system is built into Fiserv’s
Checkfree online payment service; it has also developed a public
site for consumers whose banks are not part of the
network.
