Fiserv, a provider of financial services technology solutions, has launched ZashPay, a new person-to-person (P2P) payments service that allows users to send or receive money using their existing online banking accounts.

According to the company, with ZashPay, users can send money to anyone in the US using only the recipient’s name and e-mail address or mobile phone number. The payment will be deducted directly from the sender’s banking account and deposited directly into the recipient’s account, utilizing the same secure processes as an online banking transaction.

Users who access the service at will be able to use their existing bank account to send money, and will not be required to fund a separate account – ZashPay will simply enable the transfer of funds electronically.

Erich Litch, senior vice president and general manager for consumer services at Fiserv, said: “Sending money to other people just got a whole lot easier. Anyone with a bank account can use ZashPay to send money electronically across the room or across the country.”