FirstBank has launched a person-to-person (P2P) payments system as the newest tool in its mobile banking application, allowing its customers to send and receive money via their mobile devices.

The Colorado-based lender will offer the service in collaboration with clearXchange, a P2P payments network in the US, becoming the fourth member to join the network.

Addition of clearXchange will allow the bank customers to send payments from their existing FirstBank account using the recipient’s mobile number or e-mail address without fetching any sensitive account information.

Mike Kennedy, CEO of clearXchange, said: "With clearXchange, FirstBank provides customers with a seamless and secure person-to-person payments solution, making it easier to send money to family and friends. We are excited to add FirstBank’s customers to our national network."

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