DPXPay® is a person-to-person (P2P) payments and account-to-account (A2A) transfer solution. It allows users to send or request a payment anywhere, at any time, using only the recipient’s e-mail address or mobile phone number.
This easy-to-use service allows account holders to make or receive payments without having to share confidential bank account information. It also allows them to move money between their internal and external accounts.
With DPXPay, financial institutions have a lower-cost payments processing alternative to bill pay and checks, and also benefit from being able to reallocate back-office resources.
Non-traditional players are competing heavily in this space so it is vital for financial institutions to offer customers the latest in payments technology to avoid disintermediation. With DPXPay, they can offer fast payment processing with a trusted institution. Unlike standalone P2P models that direct users to a third-party website the financial institution remains at the core of the service.
DPXPay offers consumers a level of convenience that makes it easier to attract new consumers – and retain the existing ones. Account holders can use DPXPay to send money to their child at college, to receive repayment for dinner from friends, or to move money from an external savings account to an internal checking account. They can also set up one-time, recurring, or future-dated loan payments for a simple way to pay their internal or external loan payments.
Convenient payments through DPXPay mean fewer checks to process and fewer trips to the bank for customers. It also helps financial institutions to move towards ‘paperless’ and green banking.
DPXPay is available as an integrated service through Cavion® Internet Banking and Cavion® Mobile App - and as a standalone service on the financial institution website.
DPXPay is a secure solution, offering robust account verification using a combination of data sources and proprietary account verification methods. It also supports financial institutions in compliance, providing the most powerful risk management and transaction monitoring capabilities available.