Mobile Money For Banks announced by Obopay

Obopay has announced Mobile Money for Banks, which will allow banks to deploy their own branded mobile money service. Designed to make bank accounts the anchor for all current and future mobile money transactions, the service combines complete brand control and a full range of mobile transactions and applications with simple low-cost integration and deployment. Mobile Money for Banks includes the ability to send and transfer money, makes payment card acceptance available to everyone and can be implemented in 30 days or less.

Mobile Money for Banks includes the following products:
+ Get Paid by Obopay. Enables payments to be received for products or services. Anyone, including small businesses or individuals, can accept debit card or ACH payments from anyone. Money is received directly into the recipient's bank account.
+ Mobile P2P by Obopay. Enables bank customers the ability to link and send money to anyone directly from their own bank account using a debit card. Obopay takes care of validation and regulatory compliance.
+ Family Money by Obopay. Enables bank customers to send money instantly to family members for emergencies or regularly scheduled payments.
+ Transfer Money by Obopay. Enables account-to-account transfers, allowing customers to exchange funds from their bank accounts to accounts outside of their bank. This is accomplished by simply linking the accounts they want to send money to by entering that account's debit card number or its bank account and routing number.

Obopay offers a variety of inexpensive and flexible integration options including fully branded standalone service offerings for web and mobile applications, as well as single sign on (SSO). Payment system integration options enable the bank's accounts to be anchors for all mobile transactions through integration with existing debit card network connections, or through the ACH network. Core banking integrations are also available.

More information about Obopay's Mobile Money for Banks.