San Francisco-based Patelco Credit Union, one of the largest credit unions in the United States, has announced that it has launched its mobile person-to-person payment service that is fully integrated into existing mobile banking platforms.

The service allows Patelco members to pay other people electronically via text message or e-mail from a mobile device. Patelco is the first financial institution in the nation to use this new person-to-person mobile system that is fully integrated into its mobile banking platform, according to the company.

 

This system is jointly powered by CashEdge, a provider of Intelligent Money Movement solutions for financial institutions, and MShift, which offers mobile banking solutions to clients from the financial services industry. This enables the seamless integration of CashEdge's Mobile Popmoney P2P payments through the use of the MShift Mobile Banking Platform.

 

In stark contrast with standalone systems that require separate logins, MShift technology both allows full integration of Mobile Popmoney Person-to-Person payments within mobile banking services, functionality and features, and also enables these P2P payments to be performed in mobile environments as well.

 

Anthony Vitale, director, Application Development, Patelco Credit Union, said that the company "has a commitment to offer its members the latest and most convenient banking services."

 

Vitale said Patelco and MShift collaborated on the earliest launch of Mobile Banking services in the U.S. in 2001. Additionally, the companies have continued to build on the atmosphere of innovation, which has resulted in the availability of Popmoney services to Patelco members.

 

Neil Platt, SVP and General Manager, U.S. Banking for CashEdge, said that Patelco is a top innovator in the credit union industry, and CashEdge is excited to be expanding its partnership with Patelco to allow Patelco users to use the Popmoney service on the MShift platform.

 

'Patelco Credit Union has a history of technology leadership and innovation," said Scott Moeller, CEO of MShift. "Ten years ago, Patelco represented the first mobile banking deployment of any financial institution in the United States, and I'm proud to say Patelco was also the first mobile banking deployment in the USA using MShift technology. Today, this person-to-person mobile payment launched by Patelco utilizing the MShift platform enabling full integration with the CashEdge Popmoney technology demonstrates that Patelco still leads the market; enabling their members to have the ability to initiate and send payments to any individual, right from their mobile phone, and have this powerful feature of mobile P2P payments fully integrated into their mobile banking platform provided by MShift.'