October 28, 2008
CashEdge launches Small Business Me-To-Me Transfers online transfer service
Provider of fund transfers services for financial institutions CashEdge has added the Small Business Me-To-Me Transfers online funds transfer product to its TransferNow for Small Businesses Product Suite.
The service is aimed at financial institutions who need to enhance their online offering to small businesses. Small Business Me-To-Me Transfers enables small business owners to choose between various transfer options, including next-day funds transfers and one-time, recurring and future-dated transfers. The product provides automated identity authentication and funding account verification processes that comply with all business, risk and compliance requirements. The TransferNow for Small Businesses Product Suite also includes an Invoicing and Payments module, which enables small business to send electronic invoices and receive electronic payments from customers, and Employee Payments and Vendor Payments modules, which enable direct electronic payments to these third parties.
Small Business Me-To-Me Transfers leverages the company’s funds transfer platform TransferNow, which has been adopted by more than 600 financial institutions and processed over USD 38 billion in online funds transfers in 2007. The products is a direct extension of CashEdge’s retail banking product, Consumer Me-To-Me Transfers, which has been available to consumers for more than eight years.