Payments specialist CashEdge Inc. said it has launched a small business version of its Popmoney person-to-person payment service.
Popmoney for Small Business allows users to pay vendors and employees electronically using only an e-mail address or mobile number or with an account number, according to the New York-based provider of payments, account opening and funding and aggregation solutions.
The service-which the company calls the first of its kind among P2P providers-also includes invoicing, ACH and credit card capability and payment tracking either through bank or credit union online banking sites or mobile applications on the Popmoney platform.
CashEdge launched its Popmoney service for consumers at the end of last year and said it is currently offered by 175 financial institutions-including the $9 billion BECU in Seattle, the $3.7 billion Patelco CU in San Francisco and eight of the 10 largest banks.
"With Popmoney for Small Business, businesses can send payments and invoices via e-mail and mobile and get paid faster electronically." said Catherine Palmieri, global head of product and marketing at CashEdge.