With clearXchange, FirstBank customers are set to be able to send payments from their existing FirstBank account using the recipient’s mobile number or e-mail address and without providing sensitive account information.
For banking customers, clearXchange enables P2P payments from consumers’ existing deposit accounts through their bank’s online and mobile sites. When getting paid, funds are deposited into the consumer’s bank account.
For banks and credit unions, clearXchange allows the bank to provide their customers with a enhanced P2P product within the bank’s online and mobile session.
clearXchange was launched in 2011 as a bank-focused payments joint venture among Bank of America, JPMorgan Chase and Wells Fargo, with membership open to banks and credit unions.
In recent news, FirstBank has entered a partnership with Prevx, a division of the internet security service company Webroot, to provide its customers with online fraud protection via the Prevx SafeOnline internet service.
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