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March 1, 2012updated 04 Apr 2017 4:14pm

Fiserv integrates Zashpay & Popmoney for new P2P service

Fiserv is going to integrate the P2P payment networks Zashpay and Popmoney and sell the service under the Popmoney name from this summer on The resulting network will connect 1,400 financial institutions and reach 35m consumers from both online and mobile banking, Fiserv estimates

By Carlos Martin

Fiserv is going to integrate the P2P payment networks Zashpay and Popmoney and sell the service under the Popmoney name from this summer on.

The resulting network will connect 1,400 financial institutions and reach 35m consumers from both online and mobile banking, Fiserv estimates. This network includes Citibank, PNC Bank, Regions Bank, Fifth Third Bank and BBVA Compass as clients.

Fiserv had acquired the brand Popmoney from CashEdge in September 2011.

Popmoney will also be integrated into Fiserv’s CheckFree RXP payment portal, which has a distribution network spanning 3,600 financial institutions.

Popmoney will be the largest financial institution-centric P2P service in the industry, Fiserv claimed.

Sanjeev Dheer, division president, Fiserv, said:

 “The combination of Popmoney and ZashPay will accelerate the momentum underway in bank-focused person-to-person payments. Consumers strongly prefer the convenience of their banking relationship for conducting these types of transactions. The expanded network enhances the usability of the service and accelerates adoption among consumers and small businesses.”

 

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