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
Stay tuned for coverage of @CUNA's BSA conference which starts Sunday. #CUNABSA #CUNACompliance
1 Day ago
Today's the last day to complete @CUNA's Home Depot data breach survey http://t.co/UcB8G9bVXe #StoptheDataBreaches
1 Day ago
Brenda Davis of Cross Roads Ministries will walk through 83 communities during the Ending Hunger Walking tour. (2 of 2)
1 Day ago
The Ending Hunger Walking tour, coordinated by the Maine CU League, kicked off at Old Maine CU in Augusta today. (1 of 2)
1 Day ago
Darwin Brokke of Citizens Community CU represented the #CU Association of Dakotas at a housing summit hosted by @SenatorHeitkamp
1 Day ago