June 10, 2010
U.S. Bank becomes first in US due to its partnership with CashEdge
CashEdge and U.S. Bank have partnered to launch later this year CashEdge's person-to-person (P2P) online and mobile payments service, Popmoney, to U.S. Bank’s customers. The bank plans to offer Popmoney via usbank.com and the downloadable mobile banking application, the U.S. Bank Mobile Wallet. Thus, U.S. Bank becomes the first bank in America to offer a mobile P2P solution that enables users to directly send money transfers from their bank accounts to anyone with email, mobile phone number and a bank account.
"U.S. Bank is committed to the mobile channel, and meeting the emerging needs of our rapidly growing mobile customer base," said Meheriar Hasan, Head of the Internet and Mobile Channel at U.S. Bank. "Popmoney is a secure, easy to use payment service, and we are very excited to offer it to our customers."
"Through Popmoney, U.S. Bank Mobile Wallet users will benefit from the proven reliability, security and robustness of CashEdge's money movement platform, which in 2009 processed nearly $50 billion in online funds transfers for bank customers. For current CashEdge clients, Popmoney is a simple upgrade of their existing TransferNow service," said Neil Platt, Senior Vice President and General Manager, U.S. Banking, CashEdge Inc.