CHICAGO -Two companies with numerous credit union clients announced developments related to person-to-person payment networks last week.
Harland Financial Solutions and its Harland Clarke affiliate announced that as part of the companies' P2P network called Direct Payment Exchange, they are introducing a complimentary charter membership program for financial institutions for their 11,000 credit union and bank customers. More than 3,000 financial institutions have already been enrolled to participate in the fledgling P2P network.
The Direct Payment Exchange provides a common P2P platform for the companies' customers, facilitating lower-cost movement of money while providing a more convenient enrollment process for consumers wishing to use the network's DPXPay desktop or mobile solution.
To coincide with the launch of the Direct Payment Exchange network, a charter membership program is being extended for financial institutions that wish to secure early membership in the network. Charter members will benefit from special, exclusive considerations, including waived membership fees, access to consumer marketing support and name recognition in promotional campaigns.
Meanwhile, in Duluth, Ga., NCR Corp. announced it is working with PayPal and S1 Corp. to enable real-time person-to-person payments from a credit union or bank ATM to almost anyone with a mobile phone or e-mail address. The service will initially be available in the U.S. with the ability to send money to people in more than 60 countries around the world.
After authenticating themselves at the ATM, consumers will have an option to send money to an individual. To do so, they will enter the recipient's e-mail address or mobile number, choose an amount to transfer, and the money will be immediately credited to the recipient's PayPal account. If the receiver does not have a PayPal account, then he or she will need to enroll for a PayPal account in order to receive the funds.
