FirstBank Holding Company, a bank with 15 branches in the Phoenix area, last week announced a person-to-person payments system as the newest tool in its mobile banking application, according to a press release.

With this addition, FirstBank becomes the most recent bank to offer P2P payments through the clearXchange network. FirstBank is the fourth member of the clearXchange network. It is also the first regional bank in the nation to go live with the service. ClearXchange is the largest P2P payments network in the U.S. created by and for financial institutions. More than 100 million people already have access to the clearXchange network directly through their current bank, the release said.

The addition of clearXchange allows FirstBank customers to send payments from their existing FirstBank account using only the recipient's mobile number or e-mail address, and without providing sensitive account information. Customers of participating banks can transfer and receive money using their existing online or mobile banking service. Others whose bank is not yet part of the clearXchange network only need to do a one-time registration at clearXchange.com to receive payments directly to their account at any U.S. bank, according to the announcement. 

"Joining the clearXchange network gives our customers a reliable, convenient and secure way to send and receive money," said Jim Reuter, executive vice president at FirstBank. "We're excited to continuously provide innovative services to our customers and enhance the flexibility of banking with FirstBank."