With this solution, which is to incorporate both CashEdge’s POPmoney P2P payments service and Firethorn’s Mobile Wallet solution, financial institutions will enable customers to send electronic payments using CashEdge’s POPmoney from within their Firethorn mobile banking application, by using the email address or mobile phone number of the recipient.
POPmoney allows bank customers to send an electronic payment from within the online or mobile banking site by using the email address or mobile phone number of the recipient. Likewise, payments recipients can receive the funds directly into their bank accounts. POPmoney includes an SMS text messaging application, as well as downloadable mobile applications, enabling banks to extend their P2P functionality to mobile phones. With Firethorn’s Mobile Wallet, bank customers can check account and credit card balances, transfer funds between accounts, view and pay bills, and access other services via their mobile phones.
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