The new capability is expected to provide prepaid card users with the option to reload their cards online and request money from/send money to other people via email or text. The Popmoney for Prepaid service is set to be available to prepaid card issuers, processors and program managers.
In addition, CashEdge has entered an agreement with US developer of processing technology for network-based payment systems TxVia to integrate the Popmoney for Prepaid service with the latter’s prepaid card processing platform.
Via the partnership, TxVia’s program manager and issuer clients are expected to be able to offer their prepaid cardholders the possibility to reload funds electronically onto an existing prepaid card using the Popmoney service. Cardholders are also expected to be able to send funds requests and receive funds from others using the Popmoney offering. TxVia is set to make the service available in the summer of 2011 and three of its clients have agreed to offer this 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.
In March 2011, CashEdge entered an agreement with Visa to enable the integration of its Popmoney person-to-person (P2P) online and mobile payments service with Visa credit, debit and prepaid cards.
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