Jack Henry & Associates said its iPay Solutions person-to-person payments service processed more than 1.8 million payments totaling more than $1.2 billion in the last six months of 2012.
The Monett, Mo., company said more than 1,900 credit unions now are among the more than 2,700 financial institutions using the iPay Solutions bill pay platform in which the P2P functionality is integrated.
The company said that from October through December, it saw a more than 38% increase in P2P users and more than 37% increase in payments compared to the same quarter from the previous year. The average payment amount per transaction also increased to $719, iPay Solutions said.
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