POPmoney
Person-to-Person Payments for Banks
Consumer demand for person-to-person (P2P) payments is rising and banks need a solution they can count on. POPmoney from CashEdge is the only email and mobile person-to-person payments service developed specifically for banks.
POPmoney allows bank customers to “Pay Other People” (POP) anywhere, at any time, using only a recipient’s email address, cell phone number or bank account information.
This revolutionary new service is completely built around a customer’s current banking relationship. Offered directly from within the bank’s current online or mobile banking applications, POPmoney provides simple, convenient and secure email and mobile payments directly from a customer’s bank account.
POPmoney leverages the proven reliability, security and robustness of CashEdge’s industry-leading Intelligent Money Movement™ platform, which processed nearly $50 billion in online funds transfers in 2008.
Key Features:
- Convenient Email and Mobile Person-to-Person Payments – Enables bank customers to easily send money directly from their bank accounts using an email address, cell phone number or bank account information.
- Central Payment Hub – Enables bank customers to send payments to anyone. Recipients whose bank does not offer POPmoney can deposit payments directly into their bank account at POPmoney.com.
- Flexible Architecture – Provides seamless integration with a financial institution’s existing processes, customer servicing paradigms and online and mobile banking environments.
- Simple Upgrade for Current Clients – Leverages CashEdge’s industry-leading Intelligent Money Movement platform, enabling current TransferNow® clients to implement a simple upgrade to their existing integration with CashEdge, minimizing deployment time and costs.
- Convenient Payment Options – Offers multiple transfer options, including one-time, recurring or future-dated payments.
- Optimized Payments Operations – Handles all aspects of ACH processing, including exceptions, resubmissions and inquiries, and features five daily ACH submissions and the latest ACH deadline in the industry.
- Regulation Compliance Assistance – Enables financial institutions to comply with applicable regulations including EFTA, CDD/KYC and the U.S. Patriot Act. POPmoney also meets the industry standard for maintaining the security and privacy of sensitive consumer data.
- Comprehensive Risk Management – Provides access to best-of-breed risk management tools and databases to manage risk across money movement services for the whole customer profile – not just at the transaction level – ensuring the most powerful risk management and transaction monitoring capabilities available.
Benefits for Banks
- Generate new transaction-based revenue in lucrative P2P payments space
- Respond to growing consumer demand for P2P payments
- Attract new customers and increase loyalty with innovative service
- Reduce costs associated with paper checks
- Accelerate mobile banking adoption
- Promote green banking
Benefits for Consumers
- Send money to anyone, at any time using existing online and mobile banking applications, eliminating the need for cash, checks and in-person meetings
- Make payments using an email address, cell phone number or bank account information
- Leverage flexible payment options, including immediate payments and recurring payments for ongoing expenses
- Receive payments electronically through a simple, convenient and secure process, eliminating the need to deposit paper checks
- Switch to a faster and more environmentally-friendly payment method versus mailing a paper check
- Track payment history easily online
Request a Demo
Frequently Asked Questions
P2P Payments
White Paper
POPmoney Webinar:
Request a Copy of the Webinar Recording
click here »
