Financial tech provider Fiserv Inc. is revving up Popmoney Instant Payments. Now users can send and receive funds through the service and have those funds credited into the recipient's account in a matter of seconds.  

Popmoney is Fiserv's white label person-to-person money transfer service for banks and credit unions. The Instant Payments feature is a value-added service available to FIs offering Popmoney. PNC Bank intends to be among the first financial institutions to offer the Popmoney Instant Payments feature, Fiserv said.

Though the the service is available to financial institutions that offer Popmoney and are members of the Accel payments network or STAR Network, Fiserv said it intends to expand connectivity options through other networks and connection points.

"We believe real-time payments are increasingly important to consumers in many day-to-day situations, and that includes sending money to people they know or owe," said Rahul Gupta, group president, Digital Payment Solutions at Fiserv.

"Expanding our real-time money movement options to include social person-to-person payments positions our financial institution clients to meet consumer expectations and demand, and is part of an ongoing Fiserv initiative to make faster payment options available to consumers," Gupta said.

Popmoney is offered at more than 1,800 FIs, or consumers can sign-up at Popmoney.com. The service lets customers send and receive payments from friends, family and others using their existing bank account.

Read more about money transfer/P2P services.