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12/11/2009 -
As further evidence that the world is shifting toward electronic payment processing and becoming increasingly paper- and cash-less, financial services firm Fiserv has announced the launch of a new person-to-person electronic money transfer solution."The personal payments service from Fiserv enables banks and credit unions to deliver an innovative online financial management tool, providing users with the convenient capability to pay anyone and deepening their relationship with the institution," said Erich Litch, senior vice president and general manager of consumer services for Fiserv.
Using the person-to-person payment processing tool, consumers can send money to anyone they know through the use of an email address or cell phone number. The payment will then be deposited in the recipient's account, and he or she will receive a confirmation via email or text message.
The service will be available to Fiserv online bill pay clients in the first half of 2010, the company announced.
The Fiserv service is expected to be just one of many future innovations in electronic payment processing, as the use of credit and debit cards continues to grow year after year and the need for cashless solutions expands accordingly.
