Capital One and clearXchange have announced that Capital One, N. A. has joined the clearXchange network as an owner, becoming the fourth owner alongside Bank of America, JPMorgan Chase, and Wells Fargo and fifth bank customer of the clearXchange network.
clearXchange describes itself as "the first network in the U.S. created by and for financial institutions that lets customers send person-to-person payments easily and securely with only an email address or phone number."
Capital One is focused on bringing its customers innovative products and services that allow them to spend wisely and transact easily – when, where and how they want,” said Jack Forestell, Executive Vice President of Digital at Capital One. “Partnering with clearXchange is another way we are bringing safe and secure payments through convenient, digital channels to our customers.”
“We are excited to add Capital One to our network,” said Mike Kennedy, CEO of clearXchange. “This partnership expands the value of the clearXchange network by enabling more customers to easily make secure payments to their friends and family, and it will drive additional innovation in person-to-person payments.”
As a member of the network, Capital One will expand its capabilities to provide customers the ability to pay anyone with a U.S. bank account without requiring sensitive account information.