Fiserv, one of the leaders in banking solutions and my current employer (J ) offers a product called ZashPay to several financial credit unions enabling their customers to conduct person-2-person payments. PSCU, one of the nation’s largest Credit Union Service Providers recently adopted ZashPay and added it to their online bill pay program.
ZashPay allows customers to send money to anyone using their name and email address or telephone number. The money is sent from the customer’s payment account to the other party’s account. Money can be transferred in as little as one business day. ZashPay allows the customer to send money without sharing their bank information with the receiver or having to stop at the ATM or mail a check.
I think this will be competition for companies such as Money Gram and Western Union at least for domestic money transfers.
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