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.
NEW YORK, NY (PRWEB) May 25, 2010
CashEdge, Inc. (http://www.cashedge.com), 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. Bank of the West customers can access the service at http://www.bankofthewest.com.
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.
To learn more about CashEdge's Intelligent Money Movement Services, visit http://www.cashedge.com.
About Bank of the West
Based in San Francisco, $61 billion-asset Bank of the West (http://www.bankofthewest.com) offers a full range of business, corporate, personal, trust and international banking services. The Bank operates more than 700 branch locations and commercial banking offices in 19 Western and Midwestern states. In 2010 Bank of the West was ranked highest in customer satisfaction among retail banks in California by J.D. Power and Associates. In 2009 and 2008, Bank of the West was ranked the highest in customer satisfaction among retail banks in the West by J.D. Power and Associates. Bank of the West's holding company, BancWest Corporation, is a subsidiary of BNP Paribas, among the six strongest banks in the world, according to Standard & Poor's.
CashEdge is a leading provider of Intelligent Money Movement™ solutions for financial institutions, including mobile and online person-to-person (P2P) payments, account transfers, account opening and funding, small business applications and financial account aggregation. The Company's clients include hundreds of leading financial institutions, including seven of the ten largest banks in the country, for which they move more than $50B every year. CashEdge's newest offering, Popmoney™, is a bank-enabled P2P service that is live at leading banks in the U.S.
CashEdge's industry-leading products include Popmoney™ for person-to-person payments; OpenNow®/FundNow® for new account opening and funding; TransferNow® for Consumers, which includes Me-to-Me and Third Party Transfers; and TransferNow® for Small Businesses, which includes Invoicing, Me-to-Me Transfers, Employee Payments and Vendor Payments. All CashEdge products are supported by industry-leading risk management capabilities that leverage proprietary technology to help financial institutions mitigate risk and decrease fraud exposure.
The Company is headquartered in New York with offices in Silicon Valley and India. For more information, visit http://www.cashedge.com.
The above contains statements that are based on subjective views, opinions or beliefs of the management. The data provided herein is based solely on CashEdge's solutions and does not relate to any specific financial institution or client or the industry.
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