Regions Bank announced it is now offering customers a new person-to-person (P2P) payment program based on Fiserv Inc.'s ZashPay product. The service, called Personal Pay, allows customers with checking and money market accounts to use Regions' online banking tool to send or receive money from any U.S. bank account. Customers can even send a payment to a recipient's email address or mobile phone number.

"Regions Personal Pay is a reliable solution to pay friends, family or others for everything from a lunch, to sending money to a child in college, to fundraisers, gifts and more," said Chris Cox, head of Regions eBusiness.

Customers access the new service via Regions Online Banking to send funds. On the other end of the transaction, recipients get an email or text message to their phones with information on claiming funds. According to the announcement, funds from transactions can be deposited in as little as one business day.

The ZashPay P2P network serves more than 700 financial institutions and has more than a million registered users. Regions customers are automatically enrolled in the service; non-Regions customers can sign up for free to receive payments through the system.