CashEdge, a provider of intelligent money movement services, has launched Popmoney for Small Business, the first electronic invoice (e-invoice) and payment solution designed specifically for small business customers of financial institutions.
Popmoney for Small Business provides businesses with the capability to pay vendors and employees electronically using only an email or mobile number. They may also pay using an account number.
The solution will also allow small businesses to conduct invoicing, receive payments via automated clearing house (ACH) or credit card, make and track payments, send invoice reminders and view payment history – all directly from their bank’s online banking portal or mobile application through the Popmoney platform.
San Francisco-based Bank of the West, one of the first to launch CashEdge’s consumer Popmoney service in 2010, will launch its small business invoicing and payment service in the first half of 2011.
“Business owners want financial tools that are simple to use and that make running their businesses easier. The invoicing and payment solution we are implementing will do just that,” said Matt Macomber, Bank of the West’s multi-channel banking manager. “We have had wide adoption among our retail customers since deploying Popmoney last spring. We’re excited that soon the same convenient service will be available to our small business customers. We’re confident that by launching this service we will continue to provide the most innovative
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