FIS said that the elecotronic payment solution 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.
With this solution, Nyce-supported institutions will be able to offer a P2P option that uses their existing payments network.
Popmoney solution can be integrated into the bank’s or credit union’s online banking and mobile applications making P2P payments available to a customers of financial institutions.
CashEdge CEO and president Sanjeev Dheer said that the combination of Popmoney and the Nyce Payments Network provides a real-time P2P option that is unique in the marketplace.
Ron Shevlin, senior analyst with research firm Aite Group said that the rapid consumer adoption of smartphones – which will reach 50%of cell phone owners by the end of 2012 – will spur demand for electronic money movement capabilities between consumers, and not just between consumers and businesses.
CashEdge is a provider of Intelligent Money Movement solutions 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.
