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Online & Mobile Banking

NYCE to tap CashEdge's Popmoney P2P payment suite in the US

Friday 4 February 2011 | 07:08 AM CET

US electronic payments network operator and FIS company NYCE has entered an agreement with money movement services provider CashEdge to offer Popmoney, CashEdge’s person-to-person (P2P) payment offering, to its more than 3,000 financial institution clients.

Developed specifically for financial institutions, Popmoney is an electronic payment service that enables consumers to submit payments directly to other consumers (or small businesses) from their personal accounts via their online or mobile banking account by using the recipient’s e-mail address, mobile number or bank account information.

Through this offering, NYCE-supported institutions are set to gain the ability to offer a P2P option that uses their existing payments network. The NYCE Payments Network provides the ability to transmit the funds between the sender’s account and the receiver’s account in real-time, resulting in the immediate availability of funds.

CashEdge provides money movement services for financial institutions, including mobile and email person-to-person (P2P) payments, account transfers, account opening and funding, small business applications and financial account aggregation.

More: Link
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