June 24, 2009
CashEdge Launches P2P Payments For CUs, Banks
NEW YORK – CashEdge launched what it says is the first-ever P2P payment service for financial institutions, called POPmoney, which allows consumers to send email and mobile person-to-person payments from their accounts to other individuals using only an e-mail address or cell phone number.
POPmoney is deployed directly directly from the financial institution as opposed to other existing services that use outside service providers such as PayPal and Obopay, CashEdge maintained. A recent survey conducted by CashEdge showed that 81% of respondents would use a P2P service if their FIs offered them and 77% preferred their own FIs to offer such a service over an independent service.