CashEdge Launches Innovative Gift Options for Popmoney® P2P Payments Service
New Features Enable Popmoney® Users to Send Prepaid Gift Cards From Leading Retailers Directly from Online Banking
NEW YORK, Dec. 9, 2010 /PRNewswire/ -- CashEdge Inc. (www.cashedge.com), the leading provider of Intelligent Money Movement® services, announced today it has expanded the capabilities of its Popmoney® P2P payments service to provide users with various options for sending gifts of cash or prepaid gift cards through the Popmoney service.
Popmoney's gift card service, the first of its kind in the industry, enables bank customers to send retailer gift cards from their bank accounts. Customers can send gift cards to a recipient by email, mobile number or mailing address. Banks offering Popmoney can provide the option to their customers through a simple upgrade of the service. The service is available in various configurations.
CashEdge has partnered with industry leader Blackhawk Network, a leading provider of prepaid gift cards for consumers and businesses, to launch the service. Gift cards from top U.S. retailers are available.
"Our mission aligns perfectly with CashEdge's mission for Popmoney gift cards – to simplify gift giving for consumers, and provide an easy, convenient way to send gifts through their online banking," said Talbott Roche, president, Blackhawk Network. "We are thrilled to partner with a leading innovator in online money movement to launch Popmoney gift cards in time for the holiday season. We are confident that Popmoney customers will love the added convenience of buying gifts for their friends and family through their Popmoney account."
CashEdge also today announced the launch of customizable email templates for Popmoney. The Popmoney gift email templates allow Popmoney users to make online payments more personal by embedding holiday messaging and other occasion-themed designs into payment notification emails.
Popmoney gift email templates are a seamless add-on to the existing Popmoney service, and are available at no additional cost to financial institutions offering Popmoney. By allowing senders to customize their Popmoney gift, these email templates will improve the individual user experience and in turn, drive further adoption for the bank. The templates are currently available in 15 different themes, including winter holidays, birthday, wedding, back to school, thank you, congratulations and others.
"At CashEdge, we're constantly innovating and responding to emerging trends, and we've started to see a need for a more personalized P2P experience. Early on, we saw that a significant number of Popmoney payments currently were being sent as gifts," said Catherine Palmieri, Global Head of Product and Marketing at CashEdge. "By providing these new gift options, we're able to provide new transaction-based revenue opportunities to our clients and also give Popmoney users fun and customizable options that will enhance the gift-giving experience for both the sender and the recipient."
Popmoney is the first email and mobile P2P payments service to allow online and mobile banking customers to send money simply using a recipient's email, mobile number or bank account information. More than 170 banks are live with the service, including three of the top ten US Banks. Popmoney provides support for text messaging, WAP and downloadable mobile applications.
Popmoney leverages the proven reliability, security and strength of CashEdge's money movement platform, which in 2009 processed more than $50 billion in funds transfers for bank customers. For current CashEdge clients, Popmoney is a simple software upgrade of their existing TransferNow® service.
To learn more about CashEdge's Intelligent Money Movement Services, visit www.cashedge.com.
About Blackhawk Network
Blackhawk Network, a subsidiary of Safeway Inc., is a leading provider of prepaid and financial payments products for consumers and businesses. The company's Gift Card Mall™ offers the industry's most popular prepaid gift card and telecom products. Gift Card Mall reaches more than 165 million people each week through an exclusive network of leading grocery, big box, convenience, drug, and specialty stores and is available through Internet retailers including GiftCardMall.com. Blackhawk Network's business solutions include reward and incentive programs that offer choice and flexibility through a wide array of card brands, custom designed Visa® prepaid cards and fulfillment options.
Headquartered in Pleasanton, California, Blackhawk Network Inc. has offices in the United States, Australia, Canada, France, Mexico and the United Kingdom. For more information about Blackhawk Network visit www.blackhawknetwork.com and www.giftcardmall.com.
CashEdge is a leading provider of Intelligent Money Movement™ solutions for financial institutions, including mobile and email person-to-person (P2P) payments, account transfers, account opening and funding, small business applications and financial account aggregation. The Company's clients include over 650 leading financial institutions, including eight of the ten largest banks in the United States. CashEdge's newest offering, Popmoney™, is a bank-enabled email and mobile money movement service that is live at leading banks in the U.S.
CashEdge's industry-leading products include Popmoney® for email and mobile payments; Popmoney for Small Business, OpenNow®/FundNow® for new account opening and funding; TransferNow® for consumers, which includes Me-to-Me and Third Party Transfers; and Small Business Suite, 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 www.cashedge.com.
SOURCE CashEdge, Inc.
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