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Make mobile transactions, from person-to-person
By siliconindia
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Wednesday, 04 November 2009, 23:07 IST |
2 Comments
New York: Intelligent Money Movement services provider CashEdge and mobile commerce enabler Firethorn Holdings have joined hands to bring out a mobile person-person (P2P) payments solution. The solution will be developed by integrating CashEdge's POPmoney P2P payments service and Firethorn's Mobile Wallet solution.
The integrated solution will enable financial institutions to offer their customers the ability to send electronic payments using CashEdge's POPmoney from within their Firethorn mobile banking application, by simply using the email address or mobile phone number of the recipient. This solution can give consumers more control over their finances, enabling them to make payments whenever and wherever they want, reports Reuters.
The convenience and security of using a service offered by one's existing financial institution is compelling for consumers. According to CashEdge's 2009 consumer survey, 77 percent of consumers would prefer to use a P2P payments service offered through their financial institution compared to an independent service. "Consumers are demanding new payment solutions, particularly the ability to conveniently and securely send payments while on the go," said Ben Ackerman, Vice President of Product Strategy for Firethorn.
