Fiserv’s ZashPay will roll out later this year ZashPay for small businesses, Digital Transactions magazine reports.
News of the extension of the ZashPay service was buried in an article about healthcare payments. According to the article, “consumers will be able to enroll funds held in a deposit account at a Fiserv client financial institutions. Then funds from the account could be sent via the ACH to any small business that has a bank account.”
A Fiserv marketing executive explained the strategy this way:
We found that a lot of the P2P applications were actually people sending money to small businesses, so we decided to expand this program.
I hope the guys at Square don’t read this.