The new network will connect 1,400 financial institutions and reach 35 million consumers through their existing online and mobile banking relationships.
The combined Popmoney and ZashPay network includes financial institutions in the US such as Citibank, PNC Bank, Regions Bank, Fifth Third Bank and BBVA Compass, as well as over 1,300 regional and community-based institutions. Additionally, Popmoney will be integrated into the CheckFree RXP payment suite from Fiserv, which is being used by 3,600 financial institutions.
All clients will be upgraded to the new Popmoney product and network by mid-2012.
ZashPay was introduced by Fiserv in 2009 as a P2P payment product and Popmoney became part of Fiserv as a result of the acquisition of CashEdge in September 2011. Popmoney enables consumers to send or receive money electronically via their existing bank accounts.
In recent news, Fiserv has been selected by Belgian postal operator bpost to use its AML Manager for its international and domestic money transfers.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now