Jack Henry and Moov to Implement Visa Direct to Enable Fast, Seamless Payments
Jack Henry (JKHY) has announced a strategic collaboration with Visa to integrate Visa Direct into Jack Henry Rapid Transfers™. This partnership, part of Jack Henry's alliance with Moov, aims to enhance digital payment services for community and regional financial institutions.
The integration will enable real-time account-to-account money transfers through the Visa Direct network, allowing customers to move funds between different bank accounts instantly. The service will provide emergency access to funds for unexpected expenses and urgent payments.
This implementation marks the first phase of Jack Henry's collaboration with Moov, with a cloud-native merchant acquiring solution to follow. The initiative is designed to help financial institutions modernize their payment offerings, strengthen customer relationships, and increase deposits.
Jack Henry (JKHY) ha annunciato una collaborazione strategica con Visa per integrare Visa Direct in Jack Henry Rapid Transfers™. Questa partnership, parte dell'alleanza di Jack Henry con Moov, mira a potenziare i servizi di pagamento digitale per le istituzioni finanziarie comunitarie e regionali.
L'integrazione permetterà transferimenti di denaro in tempo reale da conto a conto attraverso la rete Visa Direct, consentendo ai clienti di spostare fondi tra diversi conti bancari in modo istantaneo. Il servizio offrirà accesso immediato ai fondi per spese impreviste e pagamenti urgenti.
Questa implementazione segna la prima fase della collaborazione di Jack Henry con Moov, con una soluzione di acquisizione di commercianti cloud-native in arrivo. L'iniziativa è progettata per aiutare le istituzioni finanziarie a modernizzare le loro offerte di pagamento, rafforzare le relazioni con i clienti e aumentare i depositi.
Jack Henry (JKHY) ha anunciado una colaboración estratégica con Visa para integrar Visa Direct en Jack Henry Rapid Transfers™. Esta asociación, parte de la alianza de Jack Henry con Moov, tiene como objetivo mejorar los servicios de pago digital para instituciones financieras comunitarias y regionales.
La integración permitirá transferencias de dinero en tiempo real de cuenta a cuenta a través de la red de Visa Direct, permitiendo a los clientes mover fondos entre diferentes cuentas bancarias de manera instantánea. El servicio brindará acceso urgente a fondos para gastos inesperados y pagos urgentes.
Esta implementación marca la primera fase de la colaboración de Jack Henry con Moov, con un solución de adquisición de comerciantes nativa en la nube que seguirá. La iniciativa está diseñada para ayudar a las instituciones financieras a modernizar sus ofertas de pago, fortalecer las relaciones con los clientes y aumentar los depósitos.
잭 헨리 (JKHY)는 비자와 전략적 협력을 발표하고 잭 헨리 래피드 트랜스퍼™에 비자 다이렉트를 통합합니다. 이 파트너십은 잭 헨리가 무브와 맺은 동맹의 일환으로, 지역 및 커뮤니티 금융 기관을 위한 디지털 결제 서비스를 향상시키는 것을 목표로 합니다.
이 통합을 통해 실시간 계좌 간 송금이 비자 다이렉트 네트워크를 통해 가능해져 고객은 서로 다른 은행 계좌 간에 즉시 자금을 이동할 수 있습니다. 이 서비스는 예상치 못한 비용과 긴급 결제를 위한 자금에 즉각적으로 접근할 수 있도록 합니다.
이 구현은 잭 헨리와 무브의 협력의 첫 번째 단계이며, 클라우드 네이티브 상인 인수 솔루션이 이어질 예정입니다. 이 이니셔티브는 금융 기관이 결제 제공을 현대화하고 고객 관계를 강화하며 예금을 늘리는 데 도움을 주기 위해 설계되었습니다.
Jack Henry (JKHY) a annoncé une collaboration stratégique avec Visa pour intégrer Visa Direct dans Jack Henry Rapid Transfers™. Ce partenariat, faisant partie de l'alliance de Jack Henry avec Moov, vise à améliorer les services de paiement numérique pour les institutions financières communautaires et régionales.
L'intégration permettra des transferts d'argent en temps réel de compte à compte via le réseau Visa Direct, permettant aux clients de transférer instantanément des fonds entre différents comptes bancaires. Ce service fournira un accès immédiat aux fonds pour des dépenses imprévues et des paiements urgents.
Cette mise en œuvre marque la première phase de la collaboration entre Jack Henry et Moov, suivie d'une solution d'acquisition de commerçants native dans le cloud. L'initiative est conçue pour aider les institutions financières à moderniser leurs offres de paiement, renforcer les relations avec les clients et augmenter les dépôts.
Jack Henry (JKHY) hat eine strategische Zusammenarbeit mit Visa bekannt gegeben, um Visa Direct in Jack Henry Rapid Transfers™ zu integrieren. Diese Partnerschaft, Teil von Jack Henrys Allianz mit Moov, zielt darauf ab, die digitalen Zahlungsdienste für kommunale und regionale Finanzinstitute zu verbessern.
Die Integration ermöglicht Echtzeit-Konto-zu-Konto-Geldtransfers über das Visa-Direct-Netzwerk, sodass Kunden Gelder sofort zwischen verschiedenen Bankkonten bewegen können. Der Service bietet einen sofortigen Zugang zu Mitteln für unerwartete Ausgaben und dringende Zahlungen.
Diese Implementierung markiert die erste Phase von Jack Henrys Zusammenarbeit mit Moov, gefolgt von einer cloud-nativen Händlerakquiselösung. Die Initiative ist darauf ausgelegt, Finanzinstitute dabei zu unterstützen, ihre Zahlungsangebote zu modernisieren, Kundenbeziehungen zu stärken und Einlagen zu erhöhen.
- Strategic partnership with Visa enhances payment capabilities
- Implementation of real-time money transfer functionality
- Expansion of service offerings for financial institutions
- Potential for deposit growth through improved payment solutions
- None.
Insights
This strategic partnership marks a significant advancement in Jack Henry's digital payments infrastructure, positioning the company to capitalize on the rapidly growing real-time payments market, estimated to reach
The implementation of Visa Direct through Jack Henry Rapid Transfers creates a compelling value proposition:
- Enables community banks to compete with larger institutions in real-time payment capabilities
- Strengthens JKHY's competitive moat by expanding its ecosystem
- Creates new revenue streams through transaction fees and increased platform adoption
- Positions JKHY at the forefront of the cloud-native financial services transformation
The strategic significance extends beyond immediate functionality. This partnership addresses a critical market gap where smaller financial institutions often struggle to offer sophisticated payment solutions. The cloud-native architecture ensures scalability and cost-effectiveness, while the upcoming merchant acquiring solution suggests a comprehensive strategy to capture a larger share of the digital payments value chain.
For investors, this development signals JKHY's commitment to innovation and market leadership in financial technology. The partnership with Visa, a dominant force in global payments, validates JKHY's technical capabilities and market position. The potential for increased transaction volumes, coupled with the recurring revenue model inherent in payment processing, could drive sustainable growth in high-margin segments.
Alliance enables banks and credit unions to better serve the payment needs of consumers and small businesses
"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
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SOURCE Jack Henry & Associates, Inc.
FAQ
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