Under the terms of the deal, both parties are expected to enable US consumers to use their eligible Visa credit, debit and prepaid accounts to send and receive P2P payments domestically and internationally via the Popmoney service.
CashEdge’s Popmoney offering is set to allow bank customers to send money from their bank accounts using a recipients email address, mobile phone number or bank account information. In addition, the service provides support for text messaging, WAP and downloadable mobile applications.
The capability is expected to become available in the summer of 2011.
The Popmoney service is currently deployed at over 200 financial institutions across the U.S.
In recent news, CashEdge has entered a partnership with US financial services provider The Huntington National Bank to provide the latter with its Popmoney person-to-person (P2P) online and mobile payments service.
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