Fiserv Inc. said today it is launching a new person-to-person service that will allow users to send payment to anyone with an e-mail address or mobile phone number.
The ZashPay service will be available to the more than 3,100 financial institutions and 16 million consumers using the CheckFree online bill pay service, Fiserv said. It also will be available through a public website to consumers whose financial institutions are not part of the CheckFree network.
Instead of using a third party, payments will be deposited directly into the recipient's account or the money can be claimed at the ZashPay website and funds will be delivered in as little as one business day, Fiserv said.
"Consumers have told us they would prefer to send and receive money directly through their existing online accounts, and ZashPay makes that possible," said Erich Litch, senior vice president and general manager of consumer services at Fiserv in Brookfield, Wis.
The service is expected to launch early this summer, the company said.