CashEdge Inc. has introduced a money transfer application for small businesses.
The Small-Business Me-to-Me application, which runs on the Intelligent Money Movement platform, enables small-business owners to move money between their business accounts, CashEdge said Monday. The platform already allowed people to connect their personal and small-business accounts.
CashEdge's products have long enabled consumers to move money between their own accounts at different financial companies. The Intelligent Money Movement platform, introduced last month, initially allowed the company to offer banks a person-to-person consumer transfer system.
The vendor said then that it expected to introduce several additional channels for money movement.
The new application "enables financial institutions to better serve this traditionally underserved market segment," Sanjeev Dheer, CashEdge's president and chief executive, said in a press release Monday.