Global banking and payments technology provider FIS has announced the launch of FIS People Pay, a P2P payments offering for financial institutions that allows their customers to send payments directly to other consumers using an e-mail address or mobile phone number while utilizing the institution’s secure online banking Web site.
Offered to financial institutions, FIS People Pay enables banks and credit unions to provide their customers and members with a financial institution-branded P2P payment capability that addresses the increasing consumer expectation for real-time P2P payments. FIS People Pay leverages the FIS PayNet payments network to enable real-time money movement as well as FIS’ proven fraud monitoring solutions for risk management.
For consumers, FIS People Pay accommodates “me-to-them” payments in real time. Users can choose when and how to send payments based on what identification information the recipient provides to the sender, including account number, mobile telephone number or e-mail address
Nancy Langer, division executive, ePayment Solutions, FIS said, “Over the last year we’ve seen bill pay transaction volumes increase by 20% and our more than 14,000 clients are looking to us for the next-generation P2P solution. We believe real-time P2P is a critical facet of the broadening set of consumer’s digital money movement needs. FIS People Pay delivers not only advanced P2P capabilities, but keeps financial institutions at the center of the digital money movement.”
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