Mobile wallet platform PayToo has signed a strategic partnership with City National Bank of New Jersey (CNB) to introduce mobile wallet for banked and unbanked consumers.
As part of the agreement, the lender will facilitate PayToo to market its products and services across the US under the PayToo brand.
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The mobile wallet will enable users to perform their banking; plus load their paycheck, top-up cell phones with 300 carriers, pay bills and transfer money person to person, according to PayToo.
Users will also get access PayToo network of 200,000 locations, including cardless ATMs and multi-service centers utilizing biometrics known as PayToo Generation II Kiosks.
Additionally, users can also withdraw money using CNB’s network of 55,000 surcharge free ATMs.
PayToo Corp CEO Michel Poignant said: "We are proud and happy to partner with City National Bank, we share a mutual vision to offer all consumers, regardless of whether they are banked or unbanked, a safe and affordable financial solution. This partnership marks a new chapter in the financial industry, and is the last piece of the puzzle to allow deployment of the PAYTOO mobile wallet nationwide."
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By GlobalDataCity National Bank chairman and CEO Preston Pinkett III said: "The mobile wallet provides consumers a convenient and secure way to manage funds and make digital payments. Innovation in financial services is bring people better ways to manage their finances, we see our partnership with PayToo as the way banking will work in the future."
