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.
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