BMO Harris Bank is providing its customers with a branded P-to-P payment app, continuing a trend of developing mobile payment and banking services.

The People Pay app will allow users to send and receive money without a fee through the BMO Harris Mobile Banking App. The Chicago-based bank has recently incorporated BMO Harris Mobile Cash, which allows users to initiate withdrawals from the bank's 900 ATMs through their smartphones. The bank also has incorporated Masterpass, Android Pay and Samsung Pay into its payment channels.

However, in offering People Pay to its customers, the bank in effect is choosing to promote its own service over the Zelle P-to-P network being offered through the major U.S. banks (BMO Harris is not listed as a Zelle participant).

Bloomberg News

"People Pay is going to enhance and simplify the way our customers pay for a number of things on a monthly basis; everything from rent to splitting a restaurant check between friends. It's easy and convenient," Kyle Barnett, head of North American physical and U.S. channels for BMO Harris Bank, said in a Jan. 25 press release. "We strive to bring seamless and secure banking solutions that can be done right from your smartphone in order to simplify customers' money matters, because everyone's time is important."

Recipients of People Pay do not have to be BMO Harris Bank customers, as they are notified through e-mail when the payment has been sent.

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