CashEdge Rolls Out Prepaid Version of Popmoney

CashEdge Inc. has developed a version of its bank-focused person-to-person payments service for prepaid card companies.

Like the standard version of CashEdge's service, Popmoney for Prepaid allows consumers to move money among accounts and send and request funds from others using just their email addresses and mobile phone numbers.

The New York vendor said Thursday that it has signed TxVia Inc., a prepaid card processor, as a client for the service.

TxVia, also of New York, plans to offer the service this summer to its own clients, which include card program managers and card issuers, Neil Platt, the senior vice president and general manager of banking and payments at CashEdge, said in an interview. Three of TxVia's clients have agreed to make the service available to their customers.

"Prepaid cards … hold tremendous potential to continue to transform payments from inefficient, paper-based methods to electronic systems," Christopher Petersen, the senior vice president of accounts and business development at TxVia, said in a CashEdge press release.

CashEdge is also in discussions with other prepaid program managers and issuers to offer the service directly to them, Platt said.

"Most major … prepaid program managers are spending a lot of time thinking about, 'How do I make it easier and how do I provide more ways for people to get money onto my card?' " Platt said.

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