Fiserv Makes Real Time Person-to-Person Payments a Reality with Popmoney Instant Payments

  Fiserv Makes Real Time Person-to-Person Payments a Reality with Popmoney
  Instant Payments

  *Money can be sent at any time, and the recipient will have the money
    within seconds
  *Popmoney Instant Payments is available now for U.S. financial institutions
    that offer Popmoney and are members of the Accel or STAR networks
  *PNC Bank intends to be among the first financial institutions to offer the
    service

Business Wire

BROOKFIELD, Wis. -- April 17, 2013

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services
technology solutions, today announced the availability of Popmoney^® Instant
Payments. This value-added feature, available now to eligible financial
institutions that offer Popmoney^®, enables consumers to send money to
friends, family and service providers, and have it credited to the recipient’s
account within seconds, 24 hours a day, 365 days a year.

The Popmoney Instant Payments feature extends the functionality of the
Popmoney social person-to-person payments service, making it indispensable
when an immediate exchange of money is required. Uses could include making a
last-minute rent payment, sending money to a family member in an emergency or
paying a small business or service provider upon completion of a project. PNC
Bank intends to be among the first financial institutions to offer the
Popmoney Instant Payments feature.

“As the first major bank to offer the convenience of person-to-person
electronic payments in late 2009 with Popmoney, PNC intends to be the first
again to offer the enhanced speed of Popmoney Instant Payments,” said Thomas
S. Kunz, director of E-Business and Payments at PNC Bank. “This feature
responds to the demands of our technology-savvy customers to transfer funds
any time, any day with immediate access by the recipient. We anticipate great
interest in this improved technology.”

Popmoney Instant Payments leverages the extensive portfolio of payment
capabilities from Fiserv to enable fast and secure money movement. Popmoney
Instant Payments has been designed to facilitate real-time payments via
connections with Fiserv solutions such as the Accel™ payments network, which
accelerates funds transfers across retail, biller and social person-to-person
payments, and non-Fiserv networks. Initially, the service is available to
financial institutions that offer Popmoney and are members of the Accel
payments network or the STAR^® Network, a potential reach of hundreds of
financial institutions and tens of millions of consumers. STAR is a First Data
company and a leading debit network. Over time, Popmoney will expand its
connectivity options through other networks and connection points, making the
service available to growing numbers of financial institutions and consumers.

Fiserv research shows that banks and credit unions that offer a real-time
social person-to-person payment option in addition to three-day and next-day
payment options could see markedly higher adoption rates among potential
users.

“We believe real-time payments are increasingly important to consumers in many
day-to-day situations, and that includes sending money to people they know or
owe,” said Rahul Gupta, group president, Digital Payment Solutions, Fiserv.
“Expanding our real-time money movement options to include social
person-to-person payments positions our financial institution clients to meet
consumer expectations and demand, and is part of an ongoing Fiserv initiative
to make faster payment options available to consumers.”

“As changes like mobile transacting, comprehensive risk management, and
cross‐channel integration continue to evolve, the move to real‐time posting —
and ultimately, settlement — will become increasingly essential,” said Beth
Robertson, director of payments research, Javelin Strategy & Research. “Such
real-time capabilities will open up new potential uses for services such as
person-to-person payments.”

Popmoney is currently offered at more than 1,800 banks and credit unions, or
anyone can sign-up at Popmoney.com. With Popmoney, consumers can send money to
and receive money from friends, family and others they know or owe using their
existing bank account.

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) is a leading global technology provider serving
the financial services industry, driving innovation in payments, processing
services, risk and compliance, customer and channel management, and business
insights and optimization. For more information, visit www.fiserv.com.

FISV-G

Contact:

Media Relations:
Ann Cave
Director, Public Relations
Fiserv, Inc.
678-375-4039
ann.cave@fiserv.com
or
Additional Contact:
Wade Coleman
Director, Public Relations
Fiserv, Inc.
678-375-1210
wade.coleman@fiserv.com
 
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