Bank works with leading financial services technology provider Fiserv to implement P2P service
BIRMINGHAM, Ala., Aug. 1, 2011 /PRNewswire/ -- BBVA Compass announced that it is offering the ZashPay® person-to-person (P2P) payment service from Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions.
"BBVA Compass is excited to be able to offer ZashPay to our customers," said Andy Hernandez, director of channel development for BBVA Compass. "We are committed to offering solutions that match the way our customers live today, providing them with increased ease and convenience in managing their money. An important and growing segment of our customers are demanding payment options that help them simplify their lives. With ZashPay supporting our Simple Personal Payments(SM) service we have responded to this demand, expanding the functionality of our customers' online banking experience by making everyday personal financial tasks quicker and easier."
With Simple Personal Payments in place, BBVA Compass customers can send money easily to anyone with a U.S. bank account using only the recipient's e-mail address or mobile number. The payment is deducted directly from the sender's banking account and deposited into the recipient's account. Payments made using the system are delivered in as little as one business day.
The ease of use of the ZashPay service makes Simple Personal Payments a great option for a wide variety of our customers' payment transactions, from large expenses, such as rent payments, to smaller transactions between family and friends. The service makes it turnkey for a parent to supply a college student with additional funds or to contribute money to a teacher's gift fund, without needing checks, stamps or cash.
"With ZashPay, BBVA Compass is making it simpler for their customers to send and receive personal payments using their own bank account," said Tony Catalfano, division president, Electronic Payments, Fiserv. "The number of consumers and financial institutions enrolled in the ZashPay service is increasing each month, and BBVA Compass is an important part of the growing ZashPay network."
To utilize Simple Personal Payments, BBVA Compass customers simply access the program via the online bill payment system. Cost to use the program is $1.00 per sent transaction, with no cost for payment receipt.
For more information on the Simple Personal Payments P2P payment system, customers may contact 1-800-Compass or go to www.bbvacompass.com/special/201009/zashpay/.
