The P2P tool addition is part of Jack Henry’s bid to keep expanding its technological capabilities and tools for its community and regional bank clients. The company introduced this tool to enable banks and credit unions to provide a safe and convenient payment tool for customers, it said in its announcement.
Zelle is a similar P2P payments tool that was created by a group of big banks through their wholly-owned Early Warning Services and it has become popular with consumers. While Jack Henry will still offer Zelle to clients too, the new tool will provide options, a spokesperson for the company said.
