Under the partnership, the joint companies will deliver peer-to-peer (P2P) payments to a number of US banking customers. With the Dwolla integration, mFoundry’s Fin.X customers will now be able to offer their banks’ customers a P2P money transfer service. This addition joins other Fin.X features, such as remote deposit capture, account funding, mortgage rates, auto insurance quotes, account opening, gift card insurance, merchant-funded offers, retail barcode scanning.
In order to activate P2P payments feature, financial institution will only have to select the option on the mFoundry platform and the feature will appear in their bank’s mobile (smartphone or tablet) application.
mFoundry offers mobile banking and payments services to financial institutions such Fidelity National Information Systems, First Data, NCR, the CO-OP Financial Services and PSCU Financial Services via its platform, which also includes a mobile wallet functionality. Dwolla provides a platform which allows users to send, receive and request funds from any other user.
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