Q2 Holdings, a virtual banking solution provider, has joined forces with Acculynk, a US-based payments technology company, to offer real-time person-to-person (P2P) payment solution via Acculynk’s Payzur service.
The Payzur service enables financial institution (FI) customers to send funds simply by authenticating the mobile- or web-initiated transaction with their bank issued PIN via Acculynk’s patented online graphical PIN pad.
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The P2P payment product will simplify shopping experience for consumers as it is not ACH based, there is no enrollment or waiting period to use the service once provided by their FI, Q2 said in a statement.
The service will be available for Q2’s more than 360 financial institutions and their end users.
Q2 Holdings CTO Adam Anderson said: "With the Acculynk Payzur service, funds are available in real time, which is critical for our customers and their end users. As an added benefit we’re able to swiftly integrate the Payzur offering into our Q2platform to ensure that our clients are getting the very best payment capabilities available on the market today."
Payzur general manager Steve Ostroff said: "Payzur easily integrates with the Q2platform and can be white labeled for the individual financial institution to ensure the seamless mobile banking experience provided by the Q2platform remains intact."
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