Harland Financial Solutions and Harland Clarke have launched a new person-to-person payments solution targeted to their client base of more than 11,000 banks, credit unions and other financial services.

Called Direct Payment Exchange, the P2P service will allow the companies’ clients–including the more than 500 credit unions running the UltraData core processing platform–to send and request electronic payments using only an email address or mobile phone number.

The DPXPay solution also can handle inter-institution account-to-account transfers, the company said, “offering the potential to generate profitable, transaction-based revenue.”

DPXPay is available for desktop and mobile channels and Harland Clarke and HFS said they are promoting it with a complimentary charter membership program that includes waived fees and marketing support.

"The Direct Payment Exchange delivers the features and benefits both financial institutions and account holders are seeking for executing secure P2P payments,” said Raju Shivdasani, president of HFS in Lake Mary, Fla.

The new P2P service was introduced this week at the BAI Retail Delivery show in Chicago. Both companies are owned by Harland Clarke Holdings Corp. of San Antonio.