US Bank and CashEdge, a provider of intelligent money movement services, have entered into a partnership to launch CashEdge's person-to-person (P2P) online and mobile payments service, Popmoney, later this year.
US Bank will offer Popmoney to its mobile banking customers through usbank.com and the downloadable mobile banking application, the US Bank Mobile Wallet.
According to the CashEdge, the service to be launched will enable the US Bank to offer a mobile P2P solution for its users to send money directly from their bank account to anyone with an email address, mobile phone number and a bank account.
Meheriar Hasan, head of internet and mobile channel at US Bank, said: “Popmoney is a secure, easy to use payment service, and we are very excited to offer it to our customers.”
Neil Platt, senior vice president and general manager of US Banking at CashEdge, said: “Through Popmoney, US Bank Mobile Wallet users will benefit from the proven reliability, security and robustness of CashEdge’s money movement platform, which in 2009 processed nearly $50bn in online funds transfers for bank customers. For current CashEdge clients, Popmoney is a simple upgrade of their existing TransferNow service.”