NEW YORK, April 14, 2011 /PRNewswire/ -- CashEdge Inc. (www.cashedge.com), the leading provider of Intelligent Money Movement® services, today announced that the company was awarded a Monarch Innovation Award from Barlow Research for the company's small business email and mobile payments and receivables service, Popmoney® Small Business. CashEdge was named the 2011 Most Innovative Industry Partner.

The Popmoney Small Business solution is the first electronic invoice and payment solution designed specifically for small business customers of financial institutions. It provides businesses with the unique capability to pay vendors and employees electronically using only an email or mobile number.  

It also provides small businesses with a wealth of receivables management tools, the ability to create and manage invoices and the ability to receive payments via ACH or credit card – all directly from their bank's online banking portal or mobile application through the market-leading Popmoney platform. The service was launched in 2010.

"We're honored to receive the Monarch Innovation Award for Most Innovative Industry Partner and proud to be recognized as a valuable industry player and partner to our financial institution clients," said Neil Platt, Senior Vice President & General Manager, Banking & Payments at CashEdge.  "As such, we remain dedicated to offering unique and innovative products that provide value to both financial institutions and their small business customers with an easy-to-use, convenient and secure system to send and receive payments faster than ever before."

"We've learned from recent research that small business customers are eager to adopt new electronic solutions to simplify their payables and receivables processes, and in particular, to receive payments faster," said John Lovelett, Director of Product Strategy at CashEdge.  "Popmoney Small Business gives banks the ability to provide these solutions to their customers."

The Monarch Innovation Awards are presented by Barlow Research Associates, Inc., and recognize B2B innovations within the financial services industry. Awards are presented to financial institutions and industry partners that provide the most innovative products to business customers as well as recognize risk takers who create or promote innovation within their organizations. CashEdge was honored alongside three industry veterans, Citibank, U.S. Bank, and Capital Access Network.  

About the Monarch Innovation Awards

Developed to recognize innovation in the financial services industry, the award is named after the monarch to symbolize the rebirth that results when old formulas and methods give way to new ways of doing things. www.MonarchInnovationAwards.com

About Barlow Research Associates, Inc.

Barlow Research Associates, Inc. (BRAI) was founded in 1980 to provide research and consulting services to the banking industry in the U.S. and overseas. BRAI specializes in custom research, strategic consulting and syndicated research programs in small business, middle market and Internet banking. BRAI has a wide range of experience in many financial markets, and knows the questions to ask and the issues to probe. www.BarlowResearch.com

About CashEdge

CashEdge is the leading provider of Intelligent Money Movement® solutions to financial institutions, including person-to-person (P2P) payments, "me-to-me" account transfers, account opening and funding, small business payments and receivables management, and financial account aggregation. The Company's clients include over 650 leading financial institutions, including eight of the ten largest banks in the country.

CashEdge's industry-leading products include Popmoney®, a bank-enabled email and mobile P2P payments service offered by leading banks; Popmoney Small Business, TransferNow® for me-to-me transfers; and OpenNow®/FundNow® for new account opening and funding.  All CashEdge products are supported by industry-leading risk management capabilities that leverage proprietary technology to help financial institutions mitigate risk and reduce fraud.

The Company is headquartered in New York City with offices in Silicon Valley and India. For more information, visit www.cashedge.com or www.popmoney.com.

SOURCE CashEdge Inc.