This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ProfitStars' IPay Solutions Generates Steady Increase In P2P Activity And Transaction Amounts

Stocks in this article: JKHY

MONETT, Mo., Feb. 20, 2013 /PRNewswire/ -- Jack Henry & Associates Inc. (NASDAQ:JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its ProfitStars® division announced today that the iPay Solutions™ person-to-person (P2P) payments service processed more than 1.8 million payments during the first half of the 2013 fiscal year, which spanned July 1 to December 31, 2012. Those payments totaled more than $1.2 billion.

iPay Solutions has supported P2P payment functionality for almost 10 years, first integrating the service into its standard consumer and small business online bill pay solutions before introducing its standalone P2P offering, TheWayiPay™, in September 2010. Today, more than 2,700 financial institutions use iPay Solutions for P2P payments.

From October through December 2012, iPay Solutions experienced a more than 38 percent increase in P2P users and more than 37 percent increase in payments compared to the same quarter from the previous year. The average payment amount per transaction also increased to $719.

Greg Adelson, group president of iPay Solutions, said, "We have clearly seen exponential growth in the number of subscribers and transactions as well as transaction amounts for the last few years. We believe the ongoing evolution of mobile devices and their prevalence in daily financial management will surely support a significant rise in P2P adoption. We are committed to working with financial institutions to drive transaction activity within their payment channels."

Leveraging the market maturity and optimum flexibility of its P2P technology, iPay Solutions can offer financial institutions a product that is either deeply integrated within its bill pay platform or that operates independently. TheWayiPay uniquely ensures that each bank or credit union's P2P platform is fully branded and that end users are directed back to the financial institution's website. TheWayiPay enables anyone in the U.S. with a bank account to send and receive money using only the recipient's name and email address.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,043.24 -10.47 -0.06%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs