Under the agreement, issuers on the PULSE network provide person-to-person (P2P) and account-to-account transfer (A2A) services based on the Mobile Money for Banks and Credit Unions offering from Obopay. Participants account holders can receive funds from other institutions to their debit card accounts.
The Obopay and PULSE agreement provides financial institutions and account holders with real-time authorisation, interchange from funds transfers as well as expedited deposit services.
PULSE is a debit/ATM network providing payment services including ATM network services, PIN and signature debit services, credit services, stored value card programs to more than 6,300 financial institutions across the US.
Obopay provides mobile money technology and services that allow mobile phone users to send and receive money, disburse funds, get paid or pay small businesses, top-up accounts, buy via mobile and pay bills. In recent news, Obopay has entered a partnership with Uganda-based telecom operator Warid Telecom to launch a mobile banking and payment service dubbed Warid Pesa which enables customers in Uganda to perform e-money transactions, pay for goods and services as well as settle accounts.
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