US-based banking and payments technology company FIS has rolled out an advanced person-to-person (P2P) payments offering, People Pay, which provides real-time payment using the capabilities of its PayNet real-time payments network.
Designed for financial institutions, the new technology enables banks and credit unions to provide payments capability to their consumers to send money directly to other consumers using an e-mail address or mobile phone number.
FIS People Pay is an easy and protected channel to make ‘me-to-them’ payments in real time for consumers and the senders can select when and how to send payments based on recipient information including account number, mobile telephone number or e-mail address.
Ideal to be used as a standalone product and integrated with FIS channel products and core technologies, the People Pay enables P2P capabilities through a real-time good funds model that removes the funding risk of ACH, for financial institutions.
Headquartered in Jacksonville, Florida, FIS serves over 14,000 institutions in more than 100 geographies.