December 25, 2009
Popmoney Mobile-Payment services allows payment via text, email
Popmoney, a service from CashEdge allows users to send money directly from one bank account to another without using a bank service. The money can be sent to an online bank account, an email address, or mobile number. The receiver than verifies the transaction and can deposit into a bank account or a Popmoney account.
Neil Platt, senior vice president and general manager of US Banking says that he expects that most banks will offer Popmoney as a part of mobile banking. The platform can be bank branded. The most popular feature of Popmoney is that consumers don't need to know an account number to transfer funds. They can send funds to any email address or mobile phone number.
"We think this will be a a part of every checking account in a couple of years," Platt said.