Alliance enables banks and credit unions to
better serve the payment needs of consumers and small
businesses
MONETT,
Mo., Feb. 3, 2025 /PRNewswire/ -- Jack
Henry™ (Nasdaq: JKHY) announced today its collaboration with Visa,
the world leader in digital payments, to offer Visa Direct through
Jack Henry Rapid Transfers™. The addition of Visa Direct, which
facilitates the delivery of funds directly to eligible cards, bank
accounts, and wallets around the world, is part of Jack Henry's previously announced alliance
with Moov to enable community and regional financial institutions
to offer robust and comprehensive digital payment services to
consumers and small and medium-sized businesses (SMBs).
"The inclusion of Visa Direct represents a significant milestone
in our ongoing efforts to modernize digital payments," said
Jack Henry President and CEO
Greg Adelson. "This is the first
phase of our work with Moov that will be closely followed by our
cloud-native merchant acquiring solution. Together, these services
will enable community and regional financial institutions to offer
innovative digital payments solutions, attract and deepen
relationships, and grow deposits."
Offered only through financial institutions, Jack Henry Rapid
Transfers is a cloud-native service that will provide real-time[1]
account-to-account money movement via the Visa Direct network.
When fully implemented, this service will offer numerous
benefits, including:
- Real-Time1 Account Transfers: Move
money between accounts at different banks without delays.
- Emergency Access: Real-time1 access to funds
for unexpected expenses, travel, or urgent payments.
"Integrating Visa Direct with Jack Henry Rapid
Transfers™ will provide access to market leading real-time
money movement services for Jack
Henry's clients and their end customers," said Yanilsa Gonzalez-Ore, SVP, Money Movement North
America, Visa. "We're so excited to work with Jack Henry to serve the growing real-time
payment needs of consumers and SMBs at regional and community
banks."
About Moov
Moov is a new kind of payment processor,
built from scratch in the cloud to make payments easier for
developers & businesses. With Moov, businesses accept, store,
send, and spend money — all through one simple integration. Moov is
driven by a give-first mindset and supports a thriving network of
developers with open-source libraries and a growing community.
Discover how Moov can transform your payment operations at
moov.io.
About Jack Henry &
Associates, Inc.®
Jack Henry™ (Nasdaq: JKHY) is
a well-rounded financial technology company that strengthens
connections between financial institutions and the people and
businesses they serve. We are an S&P 500 company that
prioritizes openness, collaboration, and user centricity – offering
banks and credit unions a vibrant ecosystem of internally developed
modern capabilities as well as the ability to integrate with
leading fintechs. For more than 48 years, Jack Henry has provided technology solutions to
enable clients to innovate faster, strategically differentiate, and
successfully compete while serving the evolving needs of their
accountholders. We empower approximately 7,500 clients with
people-inspired innovation, personal service, and insight-driven
solutions that help reduce the barriers to financial health.
Additional information is available at www.jackhenry.com.
Statements made in this news release that are not historical
facts are "forward-looking statements." Because forward-looking
statements relate to the future, they are subject to inherent risks
and uncertainties that could cause actual results to differ
materially from those expressed or implied by such statements. Such
risks and uncertainties include, but are not limited to, those
discussed in the Company's Securities and Exchange Commission
filings, including the Company's most recent reports on Form 10-K
and Form 10-Q, particularly under the heading "Risk Factors." Any
forward-looking statement made in this news release speaks only as
of the date of the news release, and the Company expressly
disclaims any obligation to publicly update or revise any
forward-looking statement, whether because of new information,
future events or otherwise.
[1] Actual fund availability depends on receiving
financial institution and region
View original content to download
multimedia:https://www.prnewswire.com/news-releases/jack-henry-and-moov-to-implement-visa-direct-to-enable-fast-seamless-payments-302366163.html
SOURCE Jack Henry &
Associates, Inc.