Another player jumped into themarket for speedier payments Monday as San Francisco-basedclearXchange launched a product that will allow users to makereal-time person-to-person, business-to-consumer andgovernment-to-consumer payments using only mobile phone numbers andemail addresses.

Five of the six largest banks in the United States and severalregional financial institutions have already provided 100 milliononline banking consumers with access to the clearXchange networkthrough their online banking platforms, the company said in arelease. Anyone with a U.S. bank account can access thecompany's services through its website, it said.

“As people and businesses increasingly transition everydayactivities from traditional to online channels, they expect thingsto be completed faster,” clearXchange CEO Mike Kennedy said. “Thisincludes financial transactions, particularly those with a need forreal-time funds availability such as sending emergency money tokids, paying rent at the last minute or receiving funds for anaccident claim or disaster relief.”

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