Visa and Mastercard Help Moov Launch P2P Payment Solution

Moov has introduced Moov Money, a real-time, person-to-person (P2P) payment solution in collaboration with Visa and Mastercard. Moov Money enables consumers to send and receive funds using just an eligible debit card and a trusted mobile phone connection, eliminating the need for both parties to be in the same app or solution. The company highlights that 90.5% of American consumers carry a debit card, providing financial institutions with broad reach without requiring recipients to download apps or set up new accounts.

PYMNTS Intelligence research indicates that debit cards have become a crucial tool for Generation Z consumers, who prefer direct access to their money and speed in the payment experience. With Visa and Mastercard's wide reach combined with Moov's modern payments infrastructure and advanced fraud controls, financial institutions of all sizes can now offer a more seamless and efficient money movement experience for their customers.