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FIS Launches P2P Payments Solution

FIS People Pay allows banks to offer their customers the ability to send payments directly to other consumers using an e-mail address or mobile phone number.

Jacksonville, Fla.-based financial technology provider FIS announced today a new person-to-person payments offering for financial institutions.

FIS People Pay allows banks to offer their customers the ability 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. FIS People Pay is a standalone P2P solution and will also be integrated with FIS channel products and core solutions, said FIS.

The product leverages the FIS PayNet payments network to enable real-time money movement as well as FIS’ fraud monitoring solutions for risk management, the company said.

According to FIS, bank customers 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.

[Related Content: P2P Payments: Why Banks Need to Dive In Now]

Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio

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Jonathan_Camhi
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Jonathan_Camhi,
User Rank: Author
2/11/2013 | 8:52:36 PM
re: FIS Launches P2P Payments Solution
I wonder if someone who doesn't have a bank with this service will be able to receive a payment with this.- PopMoney allows you to do this, which is a big bonus.- Even if your friend's bank doesn't offer PopMoney you can still send them money with the service.
KBurger
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KBurger,
User Rank: Author
2/11/2013 | 4:24:55 PM
re: FIS Launches P2P Payments Solution
Is this a direct competitor to PopMoney (Fiserv)? Any insights as to how the offerings differ?
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