Fiserv teams up with Early Warning for peer-to-peer payments

Financial services technology company Fiserv is partnering with Early Warning to offer the company’s clearXchange peer-to-peer payments service.

Early Warning operates in real-time payments, authentication and risk mitigation. It acquired clearxchange, which was created by Bank of America, Capital One, JP Morgan Chase, U.S. Bank and Wells Fargo, in January of 2016.

Through the partnership Fiserv will help market the peer-to-peer payments platform, with the pair hoping to reach 6,000 banks and credit unions.

The peer-to-peer payments space remains highly crowded and fragmented, but companies are attempting to allow users to make such transfers regardless of their bank.

Earlier this week Early Warning struck a deal with MasterCard to allow users of its MasterCard Send service to send and receive money through clearxchange.

“Our mission is to enable all banks and credit unions to offer a broad range of real-time payment solutions to their customers,” said Paul Finch, CEO of Early Warning.

“Our relationship with Fiserv will expand our ability to deliver Early Warnings trusted and secure payments solutions through financial institutions of all sizes nationwide.”

Fiserv already operates peer-to-peer payments service Popmoney after acquiring CashEdge in 2011. It says it will offer both services to its clients.

Copyright © 2016 FINTECH GLOBAL

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