Payments network NYCE will begin offering person-to-person (P2P) payments to its 3,000 financial institution clients.
The Popmoney P2P system has been developed by electronic money transfer solution provider CashEdge, and enables consumers to submit payments to other consumers or businesses via their mobile or online bank accounts.
Go deeper with GlobalData
The rapid consumer adoption of smartphones ? which will reach 50% of mobile phone owners by the end of 2012 ? will spur demand for electronic money movement capabilities between consumers, and not just between consumers and businesses, said Ron Shevlin, senior analyst with research firm Aite Group.
Consumers want to do business with financial institutions that make their financial lives easy to manage. P2P payments will become a must-have capability for banks.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
