Banks and credit unions able to expedite funds availability with flexible payment optionsfor consumers and small businesses
Jack Henry & Associates, is a leading provider of technology solutions and payment processing services primarily for the financial services industry. The company announced that there are more than 100 financial institutions implementing its faster payments hub, JHA PayCenter, to connect to Early Warning Services’ Zelle Network and The Clearing House’s RTP network.
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Jack Henry is the first third-party service provider to connect a financial institution, Dallas-based Pegasus Bank, to the RTP network and process live transactions. The $750 million-asset bank is offering its consumer and commercial customers the ability to receive real-time payments sent by accountholders from other participating financial institutions without incurring interbank settlement risk. The real-time payment capabilities provided by the RTP network also enable Pegasus Bank customers to receive real-time credit transfers initiated from third-party payment apps. More than 50 additional Jack Henry clients are scheduled to go live on the RTP network by calendar year-end.
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Jenny Murphey, executive vice president and chief operating officer at Pegasus Bank, said, “Making faster payments a reality was already a crucial matter; fast and easy electronic payments are a necessity in today’s world. We have seen an uptick in P2P payments as well as customers applying for bill pay in recent weeks. Offering the RTP network has proven to be a tremendous value to our clients already, and we expect heightened activity in the months ahead as we expand the scope of the real-time capabilities we provide.”
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