CashEdge releases first P2P payment service for banks

CashEdge Inc., the leader in Intelligent Money Movement™ products for financial institutions, declared recently about the launch of POPmoney™. This is the first P2P (person-to-person) payments service for banks. It allows banks to provide secure P2P payments from their online or mobile banking applications.

Using POPmoney™ bank customers are able to "Pay Other People" (POP) anywhere, at any time. Electronic payment can be sent by simply using the email address or mobile phone number of the recipient. The service includes two types of applications: an SMS text messaging and downloadable mobile applications.

CEO and President, CashEdge Inc, Sanjeev Dheer, said: "POPmoney is a breakthrough service and represents the first real opportunity for banks to compete in the lucrative person-to-person payments space. This untapped market offers financial institutions major opportunities for new revenue and increased customer engagement."