US mobile payments company Obopay has inked an agreement with First Data's STAR Network, a PIN-secured debit network which provides transaction processing services. The newly formed partnership is set to enable real-time transfers between STAR accounts within Obopay's Mobile Money for Banks program.

Over 4800 STAR network banks and credit unions will be able to use the service to allow customers to send and transfer money via their mobile devices to anyone who can get instant access to the funds, irrespective of the financial institution. Moreover, the deal between the two sides will enable customers to get paid for goods or services and receive payments into their own bank account with instant access to the funds.

Obopay has rolled out the Mobile Money for Banks program in May 2010. The program is set to allow banks to deploy their own branded mobile money service.