U.S. Bank partners with CashEdge to launch mobile person-to-person payments

U.S. Bank, the fifth largest commercial bank in the nation, and CashEdge, the leading provider of Intelligent Money Movement services, have announced that they are partnering to launch CashEdge's person-to-person (P2P) online and mobile payments service, Popmoney, later this year. U.S. Bank will offer Popmoney to its mobile banking customers through usbank.com and the downloadable mobile banking application, the U.S. Bank Mobile Wallet.

U.S. Bank is the first large U.S. bank to offer a mobile P2P solution that enables users to send money directly from their bank account to anyone with an email address, mobile phone number and a bank account.

"Through Popmoney, U.S. Bank Mobile Wallet users will benefit from the proven reliability, security and robustness of CashEdge's money movement platform, which in 2009 processed nearly $50 billion in online funds transfers for bank customers. For current CashEdge clients, Popmoney is a simple upgrade of their existing TransferNow service," said Neil Platt, Senior Vice President and General Manager, U.S. Banking, CashEdge Inc.