Jack Henry & Associates’ JHA Payment Solutions group has partnered with Visa to deliver faster P2P (person-to-person) payments to a recipient's Visa debit card.
The integration of JHA Payment Solutions with Visa Direct will enable recipients to receive funds on the same day or one day sooner based on the institution's funding model, Jack Henry said.
Recipients will have the convenience of providing their debit card rather than an account and routing number, the company added.
Greg Adelson, general manager of the JHA Payment Solutions group, said: "P2P payments are fundamental to today's financial experience. They help roommates pay bills and friends share expenses; they're part of the everyday commerce that banks should own. JHA Payment Solutions is committed to providing financial institutions with the tools and strategy they need to aggressively compete with non-bank entities and continually evolve the P2P experience."