CashEdge is expected to add to Fiservs capabilities in several areas, such as account-to-account transfer, account opening and funding, data aggregation, small business payments, and person-to-person (P2P) payments. Both companies currently offer financial institution-centric P2P services that enable payments to be made from one account to another, Fiserv with ZashPay and CashEdge with Popmoney.
The transaction is currently expected to be completed by September 2011, subject to regulatory approvals and customary closing conditions. Fiserv expects the transaction to be neutral to adjusted earnings per share in 2011 and accretive to adjusted earnings per share in 2012.
CashEdge provides services to over 500 clients. The transaction is expected to expand Fiservs workforce in the US and India.
In recent news , US financial institution Ally Bank has started offering the Popmoney person-to-person (P2P) online and mobile payments service powered by CashEdge.
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