BBVA Compass Adds Person-to-Person (P2P) Payment Option With ZashPay
Posted on August 01, 2011 at 10:00 AM EDT
Bank works with leading financial services technology provider Fiserv to implement P2P service
BIRMINGHAM, Ala., Aug. 1, 2011 /PRNewswire/ -- BBVA Compass announced that it is offering the ZashPay® person-to-person (P2P) payment service from Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions.
"BBVA Compass is excited to be able to offer ZashPay to our customers," said Andy Hernandez, director of channel development for BBVA Compass. "We are committed to offering solutions that match the way our customers live today, providing them with increased ease and convenience in managing their money. An important and growing segment of our customers are demanding payment options that help them simplify their lives. With ZashPay supporting our Simple Personal Payments(SM) service we have responded to this demand, expanding the functionality of our customers' online banking experience by making everyday personal financial tasks quicker and easier."
With Simple Personal Payments in place, BBVA Compass customers can send money easily to anyone with a U.S. bank account using only the recipient's e-mail address or mobile number. The payment is deducted directly from the sender's banking account and deposited into the recipient's account. Payments made using the system are delivered in as little as one business day.
The ease of use of the ZashPay service makes Simple Personal Payments a great option for a wide variety of our customers' payment transactions, from large expenses, such as rent payments, to smaller transactions between family and friends. The service makes it turnkey for a parent to supply a college student with additional funds or to contribute money to a teacher's gift fund, without needing checks, stamps or cash.
"With ZashPay, BBVA Compass is making it simpler for their customers to send and receive personal payments using their own bank account," said Tony Catalfano, division president, Electronic Payments, Fiserv. "The number of consumers and financial institutions enrolled in the ZashPay service is increasing each month, and BBVA Compass is an important part of the growing ZashPay network."
To utilize Simple Personal Payments, BBVA Compass customers simply access the program via the online bill payment system. Cost to use the program is $1.00 per sent transaction, with no cost for payment receipt.
For more information on the Simple Personal Payments P2P payment system, customers may contact 1-800-Compass or go to www.bbvacompass.com/special/201009/zashpay/.
ABOUT BBVA COMPASS
BBVA Compass is a Sunbelt-based financial institution that operates more than 712 branches including 375 in Texas, 93 in Alabama, 65 in California, 78 in Arizona, 45 in Florida, 36 in Colorado and 21 in New Mexico. BBVA Compass ranks among the top 20 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (3rd), Texas (4th) and Arizona (5th). BBVA Compass has been recognized as one of the nation's leading Small Business Administration (SBA) lenders, earning 'Lender of the Year' honors in 2009 and 2010. Additional information concerning BBVA Compass can be found on our website www.bbvacompass.com.
BBVA Compass is a subsidiary of BBVA Compass Bancshares, Inc., a wholly owned subsidiary of BBVA (NYSE: BBVA) (MAD: BBVA). BBVA is a financial services group with approximately $770 billion in total assets, 48 million clients, 7,400 branches and approximately 109,000 employees in more than 30 countries. BBVA ranks among the top 20 largest financial institutions in the world based on market capitalization and 21st in Global Finance magazine's list of the "World's 50 Safest Banks" for 2010. BBVA provides its customers around the world with a full range of financial services, including commercial and wholesale banking, retail banking services, consumer loans, mortgages, credit cards, securities brokerage, wealth management, pension plan management and insurance. The BBVA Group maintains a leadership position in Spain, Mexico, Latin America and the Sunbelt Region of the United States, as well as operations in China, France, Germany, Hong Kong, Italy, Japan, Singapore, Switzerland, Turkey, and the United Kingdom. More information about the BBVA Group can be found at www.bbva.com.
Fiserv, Inc. (NASDAQ: FISV) is the leading global provider of information management and electronic commerce systems for the financial services industry, driving innovation that transforms experiences for financial institutions and their customers. Fiserv is ranked No. 1 on the FinTech 100 survey of top technology partners to the financial services industry. For more information, visit www.fiserv.com.
Editor's Note: BBVA Compass is a trade name of Compass Bank. Compass Bank, member FDIC.
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