Moov launches P2P Payments for financial institutions

By Divya Shah

US-based payments platform Moov Financial has launched Moov Money, a real-time person-to-person (P2P) payments solution built on Visa Direct and Mastercard Move, enabling consumers to send and receive funds through their existing digital banking applications. 

The platform allows users to transfer money using an eligible Visa or Mastercard debit card and a verified mobile phone connection, eliminating the need for manual card number entry in many cases. 

The solution is designed to address the fragmentation of the US P2P payments market by enabling payments to be delivered directly to accounts linked to eligible debit cards across card networks. The company said no single P2P provider currently reaches more than 34.6% of US consumers. 

Moov Money combines Mastercard Move and Visa Direct infrastructure with Moov’s payments technology layer, which connects recipients’ mobile numbers, contacts, or payment credentials to payment destinations.  

The platform also supports tokenised card credentials through Mastercard Credential Services and leading mobile wallets. 

Wade Arnold, CEO of Moov, said the solution broadens access to digital money movement by enabling anyone with a debit card to send and receive payments securely.  

He added that the combination of Visa and Mastercard’s reach with Moov’s payments infrastructure aims to simplify and enhance the user experience. 

The platform incorporates identity verification, fraud controls, dispute management, passkey authentication, device intelligence, network-level card validation, real-time monitoring, and AI-powered fraud detection tools designed to reduce scams and fraud losses. 

Moov said it will also manage disputes, fraud monitoring, and first-line customer support for participating institutions, helping reduce operational costs and resource requirements. 

The solution is available to banks, credit unions, neobanks, and brokerages for domestic P2P payments and can be integrated directly into existing digital banking platforms.  

Additionally, Jack Henry has integrated Moov Money into its Banno Digital Platform, enabling financial institutions to offer branded real-time P2P payment capabilities to their customers.