JHA Payment Solutions is part of Jack Henry & Associates, a technology solutions and payment processing services primarily for the financial services industry provider. JHA Payment Solutions began offering P2P in 2005 and volumes of payment transactions have grown consistently since its inception.
In 2015, worldwide, P2P payments surpassed USD 375 billion, and by 2020 the US market is expected to surpass USD 200 billion. Financial institutions are taking more initiative to compete in this growing market through benefits such as faster payments. JHA Payment Solutions integration with Visa Direct enables recipients to receive funds on the same day or one day sooner based on the institutions funding model. Recipients have the convenience of providing their debit card rather than an account and routing number.
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