Financial services technology company Fiserv and Early Warning have partnered this week. Fiserv will leverage the partnership to provide a turnkey solution for banks to implement Early Warning’s P2P payment solution, clearXchange.
clearXchange was created in 2011 by Bank of America, Capital One, JP Morgan Chase, U.S. Bank and Wells Fargo and was acquired by Early Warning in January. Fiserv will market the real-time P2P solution, helping Early Warning to reach 6,000 banks and credit unions, including the 40 largest U.S. financial institutions. clearXchange will be available through its NOW Network, which connects financial institutions, billers, small businesses and consumers to facilitate the exchange of money and information in real time.
Paul Finch, CEO of Early Warning, said, “Our mission is to enable all banks and credit unions to offer a broad range of real-time payment solutions to their customers,” Finch added, “Our relationship with Fiserv will expand our ability to deliver Early Warning’s trusted and secure payments solutions through financial institutions of all sizes nationwide.”
Fiserv is one of the newest distribution partners for the service, along with Mastercard, which announced this week that its Mastercard Send U.S. debit cardholders can send and receive money through the clearXchange network.
It’s unclear what effect this will have on Fiserv’s existing P2P payment service, Popmoney, which it began offering after acquiring Popmoney creator CashEdge in 2011. For now, the Atlanta-based company made it clear it will offer both services.
Fiserv last presented at FinovateSpring 2016 where it debuted its mobile account opening solution targeted toward millennials.
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