Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
Jack Henry announces TheWayiPay
MONETT, Mo. (9/10/10)--Jack Henry announced TheWayiPay, the standalone version of the iPay person-to-person (P2P) electronic payment solution, will be available in the fourth quarter. TheWayiPay allows anyone with a bank account to use that account to send and receive money. The service is accessible through credit unions’ and banks’ Web sites and leverages the same secure processing as online banking transactions. Payments can be made using only the recipient’s name and e-mail. The money is deducted from the sender’s account and deposited directly in the recipient’s account in one to three business days with payment confirmations sent to the recipient’s e-mail address. iPay’s P2P service is used by more than 2,150 financial institutions. It has supported more than 5.5 million person-to-person payments with more than 96,000 monthly transactions ranging from $1 to $10,000. Because of iPay’s acceptance in the financial industry, TheWayiPay is expected to generate significant interest, Jack Henry said. “We believe the speed and convenience of P2P transactions could fundamentally change the payments business,” said Bill Ready, president of iPay Technologies. About 60 million U.S. households will use P2P by 2014, according to Javelin Strategy and Research.


RSS print
News Now LiveWire
News reports say House side of U.S. Capitol is closed due to "industrial spill," unclear how will effect day's proceedings.
58 minutes ago
Reminder: @TheNCUA's Listening Session tomorrow in Chicago. Capacity crowd expected for meeting at 1 p.m. CT. http://t.co/FYYuoHCdVJ
15 hours ago
Mortgage apps up 1.9% in @MBAMortgage's weekly survey http://t.co/QBzKWdnRkH
16 hours ago
Manage your household budget with these 5 @SavvyMoney tips from @MCUA_news's Halley Abbott on @FOX2now http://t.co/qaXIbnNktt
16 hours ago
Wash state's marijuana market open but still short of FIs to serve it via @NWCUA http://t.co/qwxCVEZbPG
17 hours ago