CashEdge, a provider of intelligent money movement services, said that two major US banks have launched its POPmoney, a new email and mobile person-to-person (P2P) payments service offered through banks.
The company added that the new service allows bank customers to send an electronic payment directly from their online or mobile banking service, by using the recipient’s email address, mobile phone number or bank account information.
In addition, the recipient of the payment can receive the funds directly into his or her account at any bank through online banking, if the bank offers POPmoney. It includes support for text messaging, WAP and downloadable mobile applications, enabling financial institutions to extend their P2P functionality to mobile phones.
Sanjeev Dheer, CEO and president of CashEdge, said: “The launch of POPmoney by the first two banks is a very exciting and important milestone for CashEdge and for the payments industry overall.
“Consumers have been demanding online and mobile payment options that are simple and secure, and we strongly believe that banks are the best provider of these services. These two banks are the first of many who will offer POPmoney to their customers in the next year, ushering in a new era in P2P payments.”
