Fiserv Inc. plans to leverage its CheckFree bill pay network fora new person-to-person (P2P) service that will allow users to sendpayment to anyone with an e-mail address or mobile phonenumber.

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The company said its ZashPay service will be available to themore than 3,100 financial institutions and 16 million consumersusing CheckFree, which last year processed about 1.35 billionpayments. It also will be available through a public website toconsumers whose financial institutions are not part of theCheckFree network.

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Instead of using a third party, payments will be depositeddirectly into the recipient's account or the money can be claimedat the ZashPay website and funds will be delivered in as little asone business day, Fiserv said.

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“Consumers are looking for faster and easier ways to send andreceive money among their friends, family, neighbors andcolleagues, yet current electronic payment options are often ahassle and too slow,” said Erich Litch, senior vice president andgeneral manager of consumer services at Fiserv in Brookfield,Wis.

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