Payments
We’re increasing payment options for checking and savings account holders. Paper, pens and plastic not required.
“I need to find an ATM.”
“Do you have change for a twenty?”
“The check is in the mail.”
Three of the most irritating statements in the realm of payments. How can you remove the obstacles of using cash and checks and ensure speedy settlement between parties?
At Fiserv, we’re constantly developing new ways to make DDA-based payments as fast and easy as card payments. Consider what we’ve done for Tony, Carl and Elise:
Tony is a major-league San Francisco Giants fan who scored four sweet seats behind home plate. He texts his buddies: “Want a ticket? Get me the money and it’s yours.” Carl wants dibs, so he initiates a ZashPay® mobile payment to Tony right from his iPhone. The ZashPay service is tied to Carl’s credit union account, so all he has to do is provide Tony’s mobile phone number or email address. (He doesn’t even have to know where his friend banks.) Within seconds, the payment is now on its way to Tony, and Carl’s ticket to the big game is secured.
With ZashPay, we’ve created a financial institution-centric approach to person-to-person (P2P) payments – unlike other P2P offerings in the market that take the bank or credit union out of the process. And through our ACCEL/Exchange® payment network, we are enhancing P2P payments with real-time funds movement and immediate funds availability for consumers. However, it’s only one example of how we’re innovating payments. Our CheckFree RXP® electronic bill pay solution allows consumers to make same-day bill payments – and avoid service disruption.
We’re not done.
Elise is finishing up her third house of the day and needs to get on the road to her fourth. She looks forward to the day – soon – when she’ll be able to use ZashPay to electronically send invoices and collect payments for her gardening business. Instead of wasting precious time writing up invoices at job sites or mailing them later, she’ll be able to send each client’s invoice from her truck in seconds using her smartphone. Then, the client can easily send payment back to her through ZashPay. Elise will get paid faster, and neither she nor the homeowner will have to bother with checks or cash.
There’s a lot more still to come on the payments horizon. Just think, one day people will be paying for things with the wave of a smartphone, and wondering how they ever got along without that capability.
