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Fiserv combines P2P for PopmoneyZashPay

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BROOKFIELD, Wis. (3/9/12)--Fiserv, a financial services technology provider, will combine two of its person-to-person (P2P) payment solutions to create a P2P network that includes 1,400 financial institutions and 35 million consumers.

The company will combine ZashPay, the P2P payment product it launched in 2009, with Popmoney, a P2P product it gained with its acquisition of payments and aggregation company CashEdge in September. The combined service will be called Popmoney.

Through the service, consumers will be able to request money from individuals or groups, import contacts to a payee list and send e-greetings along with electronic transfers. All existing ZashPay and Popmoney customers will be upgraded to the newly combined and enhanced platform by the middle of 2012, according to Fiserv.

"The combination of Popmoney and ZashPay will accelerate the momentum underway in bank-focused person-to-person payments," said Sanjeev Dheer, president of the personal payments division at Fiserv, in a news release. "Consumers strongly prefer the convenience of their banking relationship for conducting these types of transactions. The expanded network enhances the usability of the service and accelerates adoption among consumers and small businesses."

PCUA LSCUs Leverage to offer ePurchasing

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TALLAHASSE, Fla. (3/9/12)--The Pennsylvania Credit Union Association will offer the League of Southeastern Credit Unions' (LSCU) service corporation's vendor management and ePurchasing platforms to Pennsylvania credit unions.

Ventelligence is a vendor management system tool offered by Leverage, as the LSCU service corporation is known, for contract management and contract procurement.

The contract management tool tracks information through a Web-based database. Risk assessment and due diligence are performed on all third-party vendor relationships and placed into three categories: high, moderate and low. Categories are based on the complexity of each relationship and emphasize National Credit Union Administration-identified risk areas.

With the ePurchasing platform, competing companies are invited into a live bid environment and are encouraged to more aggressively bid against one another to win the credit union's contract. The savings through ePurchasing averages more than 20%, according to Leverage.

More than 500 Pennsylvania credit unions will have access to the vendor management and purchase platforms.