Two providers collaborate to offer Direct Payment Exchange, a P2P payment network.

• Position: NEW PRODUCTS - Person-to-person - Brief article

RECOGNIZING THE NEED for financial institutions to meet increasing demand for person-to-person (P2P) electronic payments, Harland Financial Solutions and Harland Clarke have collaborated to launch their own P2P payment network, Direct Payment Exchange.

As part of the launch, they are introducing a complimentary charter membership program for financial institutions.

The exchange provides a common P2P platform for the companies' 11,000 plus clients, facilitating lower cost movement of money while providing a more convenient enrollment process for consumers wishing to use the network's DPXPay desktop or mobile solution, the companies say.

DPXPay will enable financial institutions to offer their account holders the ability to send and request electronic payments to and from another person using only their email address or mobile phone number. In addition, consumers can use DPXPay for account to account (A2A) transfers between accounts they hold at different...