US online money transfer services provider CashEdge has revealed that more than 100 financial institutions will be adding the POPmoney service to their customer offerings in H1 2010.

POPmoney is an email and mobile person-to-person (P2P) payments service which enables bank customers to send an electronic payment from their online or mobile banking service, by using the recipient’s email address, mobile phone number or bank account information.

Additional features of POPmoney include support for text messaging, wireless application protocol (WAP) and downloadable mobile applications, which allow financial institutions to extend their P2P functionality to mobile phones.

Banks that have already integrated the POPmoney service include First Hawaiian Bank and FNBO Direct, with Bank of the West and credit unions BECU and Patelco to follow soon.