Fiserv is combining its two person-to-person payment offerings, Popmoney and ZashPay, and will market the P2P offering as Popmoney, the technology company announced Feb. 29.
The resulting network will connect 1,400 financial institutions and reach 35 million consumers through their existing online and mobile-banking relationships, the Brookfield, Wis.-based company said.
Fiserv launched ZashPay in 2009 as a P2P payment product that leveraged the company’s bill-payment network. Popmoney became part of Fiserv as a result of the acquisition of CashEdge in September 2011. Fiserv said all clients will be upgraded to the enhanced Popmoney product and network by mid-2012.
The combined Popmoney and ZashPay network includes some of the largest financial institutions in the U.S., such as Citibank, PNC Bank, Regions Bank, Fifth Third Bank and BBVA Compass, as well as more than 1,300 regional and community-based institutions.
In addition, Fiserv will integrate Popmoney into its CheckFree RXP payment suite used at 3,600 financial institutions.
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