CashEdge said the new service, available to prepaid card issuers, processors and program managers, will provide prepaid card users with the ability to reload their cards online, and the ability to request money from, or send money to, other people via email or text.
In conjunction with this launch, CashEdge and TxVia, a provider of processing technology for prepaid and emerging payments, has signed an agreement to integrate Popmoney for Prepaid with TxVia’s prepaid card processing platform.
Through the agreement, TxVia’s program manager and issuer clients will be able to offer their prepaid cardholders the ability to reload funds electronically onto an existing prepaid card using the Popmoney service.
Cardholders will also be able to send funds requests and receive funds from others using Popmoney. TxVia is expected to make the service available in summer 2011 and three of its clients have agreed to offer this service.
Popmoney is a email and mobile person-to-person payments service, which allows bank customers to send money from their online or mobile banking, using a recipient’s email, mobile number or bank account information.
CashEdge Banking & Payments senior vice president and general manager Neil Platt said that by introducing Popmoney for Prepaid, and partnering with prepaid card industry leaders like TxVia, we are providing millions of additional consumers with access to the convenience and security of the Popmoney service, and generating new revenue opportunities for prepaid networks and program managers.
