US Bank, the sixth-largest US bank by assets, is to launch a
person-to-person mobile payments
service to customers via a partnership with payments vendor
CashEdge.
US Bank will roll out CashEdge’s Popmoney
service later this year to its mobile banking customers at
www.usbank.com and the downloadable mobile banking application, the
US Bank Mobile Wallet.
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The service will enable US Bank customers to
send money directly from their bank account to anyone with an email
address, mobile phone number and a bank account.
Bank of the West, the US-based retail subsidiary of BNP Paribas,
kicked off a similar service in May in partnership with the same
vendor (see Bank of the West launches
virtual money service)
“US Bank is committed to the mobile channel,
and meeting the emerging needs of our rapidly growing mobile
customer base,” said Meheriar Hasan, head of the internet and
mobile channel at US Bank.
“Popmoney is a secure, easy to use payment
service, and we are very excited to offer it to our customers.”
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By GlobalDataIn April, a survey sponsored by FIS, PayPal
and Nacha reported that almost half of Americans who bank online
are interested in electronic person-person payments.
The report added that 70% of respondents
interested in the new service would be likely to use P2P payment
services.
