Bank of the West launches CashEdge PopMoney for P2P payments by e-mail
26 May 2010 | 3218 views | 0
CashEdge, Inc., the leading provider of Intelligent Money Movement™, announced today that Bank of the West, one of the largest banks in the United States has launched Popmoney™, CashEdge's person-to-person (P2P) payments service.
Popmoney is the first payments service to allow bank customers the ability to send money from their bank account, using a recipient's email address, mobile phone number or bank account information. Popmoney provides support for text messaging, WAP and downloadable mobile applications.
San Francisco-based Bank of the West has $63.6 billion in assets and operates more than 700 branch locations. The bank was one of the first in the nation to launch CashEdge's Third Party Transfer service in 2009, and is now among the first banks to launch Popmoney.
"Today, consumers want and need a fast, easy, and secure way to transfer money to other people and CashEdge's Popmoney solution enables us to meet this demand," said Matt Macomber, head of Internet Banking at San Francisco-based Bank of the West. "Now with Popmoney, our customers have the comprehensive tools they need on bankofthewest.com to manage their money, and we can meet the increasing demand for online person-to-person payments. We are confident our customers will welcome the convenience and security of this service."
"Bank of the West is a great CashEdge partner and a leading innovator in the industry - continually looking to be one step ahead in responding to their customers' needs," said Neil Platt, Senior Vice President and General Manager, U.S. Banking, CashEdge Inc. "There is clear and growing consumer demand for email and mobile payment services provided by their financial institutions, and we look forward to working with Bank of the West and our other clients to deliver this capability to their customers."
Popmoney leverages the proven reliability, security and strength of CashEdge's money movement platform, which in 2009 processed nearly $50 billion in funds transfers for bank customers. For current CashEdge clients, Popmoney is a simple upgrade of their existing TransferNow service.