October 11, 2011 08:00 AM Eastern Daylight Time
Financial Institutions Invited to Participate in Charter Membership of Direct Payment Exchange
LAKE MARY, Fla.--(BUSINESS WIRE)--Recognizing the need for financial institutions to meet increasing demand for person-to-person (P2P) electronic payments, Harland Financial Solutions and Harland Clarke have collaborated to launch their own P2P payment network, Direct Payment Exchange. As part of the launch, they are introducing a complimentary charter membership program for financial institutions. The companies are debuting the service at the BAI Retail Delivery Conference this week in Chicago.
“We are proud to demonstrate our leadership in helping define the changing landscape and delivery of P2P payments”
The Direct Payment Exchange provides a common P2P platform for the companies’ 11,000 plus clients, 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.
DPXPay will enable financial institutions to offer their account holders the ability to send and request electronic payments to and from another person using only their e-mail address or mobile phone number. In addition, consumers can use DPXPay for account to account (A2A) transfers between accounts they hold at different institutions. Not only will this offering satisfy consumer requests for easier and more secure methods to send and receive money, it has the potential to generate profitable, transaction-based revenue for the institution.
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. More than 3,000 financial institutions have already been enrolled to participate in the Direct Payment Exchange network.
“With Harland Clarke being known as one of the largest and most respected secure payment suppliers in the industry and Harland Financial Solutions providing leading financial services software to thousands of institutions, it’s only natural for us to work together to set the standard for P2P payment networks,” said Raju Shivdasani, president, Harland Financial Solutions. “The Direct Payment Exchange delivers the features and benefits both financial institutions and account holders are seeking for executing secure P2P payments.”
“We are proud to demonstrate our leadership in helping define the changing landscape and delivery of P2P payments,” said Dan Singleton, president, Harland Clarke. “With this service offering, financial institutions will reinforce to consumers their commitment to remaining on the forefront of technology, supporting customer acquisition and retention, while providing opportunities for improving performance.”
About Harland Clarke Corp.
Harland Clarke Corp. (www.harlandclarke.com) is a leading provider of best-in-class integrated payment solutions, marketing services and security solutions. It serves clients in multiple industries, including financial services, retail, healthcare, insurance, and telecommunications, and ranging in size from major corporate brands and trade groups to micro-businesses and individual consumers. Within its payment solutions business, Harland Clarke provides needed products and services to nearly 11,000 banks, credit unions and major investment firms. Harland Clarke Marketing Services’ portfolio is expansive, with a dozen solutions designed to address the needs of banks and credit unions and their account holders through life cycle management. Harland Clarke delivers integrated marketing campaigns focused on acquisition, onboarding, engagement, retention, and cross-selling, utilizing extensive print, phone and email channels for campaign execution. Headquartered in San Antonio, Texas, Harland Clarke employs more than 4,500 people nationwide and operates manufacturing and contact center facilities in multiple states and communities. Harland Clarke is a wholly owned subsidiary of Harland Clarke Holdings Corp., which also owns Harland Financial Solutions and Scantron.
About Harland Financial Solutions
Harland Financial Solutions, Inc. (www.harlandfinancialsolutions.com) supplies software and services to thousands of financial institutions of all sizes, offering its solutions in both an in-house and service bureau environment. It is a leader in core systems, business intelligence, branch automation, payment processing, enterprise content management, lending solutions, risk management, compliance, financial accounting, mortgage solutions, and self service solutions. The company is an indirect wholly-owned subsidiary of Harland Clarke Holdings Corp., which also owns Harland Clarke Corp. and Scantron Corporation.
