Moov Financial launched Moov Money, a service that lets banks and credit unions offer person-to-person transfers inside their own apps by routing payments to a recipient’s debit card over Visa Direct and Mastercard Move, according to John Adams at American Banker. Recipients can be reached by phone number or contact, so neither side has to download an app or enter card details, and Jack Henry is the first adopter through its Banno digital banking platform. Jack Henry CTO Ben Metz said the smaller banks it serves have long wanted an option besides Zelle, which they see as a big-bank product, though analysts say getting consumers to use yet another P2P service will be hard when most already have Zelle, Venmo or Cash App.
