CashEdge Signs Deal With Huntington to Provide Popmoney® P2P Email and Mobile Payments to its Customers

NEW YORK, March 7, 2011 /PRNewswire/ -- CashEdge, Inc. (www.cashedge.com), the leading provider of Intelligent Money Movement® services, announced today that it has signed a deal with The Huntington National Bank (Nasdaq: HBAN; www.huntington.com), one of the largest banks in the Midwest, to provide Popmoney®, CashEdge's person-to-person email and mobile payments service, to its customers. The service will be offered online through Huntington Online Banking and through Huntington Mobile Banking later in the year.

Popmoney is the leading email and mobile person-to-person payments service to allow bank customers to send money from their online or mobile banking, simply using a recipient's email, mobile number or bank account information. Popmoney provides support for text messaging, WAP and downloadable mobile applications.

Headquartered in Columbus, Ohio, Huntington has $54 billion in assets and more than 11,000 employees.  The bank has more than 600 local branches and an array of alternative distribution channels including internet and mobile banking, telephone banking, and more than 1,300 ATMs, throughout its six-state banking franchise: Ohio, Michigan, Indiana, Pennsylvania, West Virginia, and Kentucky.

"At Huntington, our number one priority is creating the best experience for our customers," said Jeff Dennes, Senior Vice President, Director of Online and Mobile Services for Huntington.  "Increasingly, our customers are looking for leading-edge online and mobile solutions and more convenience.  CashEdge's Popmoney person-to-person transfer network will provide our customers with a fast, simple, and secure way to transfer money to other people."  

"There is clear and growing consumer demand for email and mobile payment services provided by their financial institutions," said Neil Platt, Senior Vice President and General Manager, U.S. Banking, CashEdge Inc. "By offering Popmoney to its customers, Huntington is meeting this increased demand, and joining nearly 200 financial institutions, including 6 top 20 U.S. banks, in providing the most secure and reliable email and mobile payments service currently available."  

Popmoney is built upon the proven reliability and security of CashEdge's money movement platform, which in 2010 processed over $64 billion in online funds transfers for bank customers. For current CashEdge clients, Popmoney is a simple upgrade of their existing TransferNow service.

About CashEdge

CashEdge is a leading provider of Intelligent Money Movement® solutions for financial institutions, including mobile and email person-to-person (P2P) payments, account transfers, account opening and funding, small business applications and financial account aggregation. The Company's clients include over 650 leading financial institutions, including eight of the ten largest banks in the country. CashEdge's newest offering, Popmoney®, is a bank-enabled email and mobile money movement service that is live at leading banks in the U.S.

CashEdge's industry-leading products include Popmoney for email and mobile payments; Popmoney® for Small Business, OpenNow®/FundNow® for new account opening and funding; TransferNow® for consumers, which includes Me-to-Me and Third Party Transfers; and Small Business Suite, which includes Invoicing, Me-to-Me Transfers, Employee Payments and Vendor Payments. All CashEdge products are supported by industry-leading risk management capabilities that leverage proprietary technology to help financial institutions mitigate risk and decrease fraud exposure.

The Company is headquartered in New York with offices in Silicon Valley and India. For more information, visit www.cashedge.com.

SOURCE CashEdge, Inc.

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