|PULSE and Obopay Collaborate to Provide Real-time Payment Solution|
Agreement Enables Instant Payment Connectivity to Debit Card Accounts at Participating PULSE Financial Institutions
As a result of the PULSE and Obopay agreement, issuers on the PULSE network can offer real-time person-to-person (P2P) and account-to-account transfer (A2A) services based on the Mobile Money for Banks and Credit Unions offering from Obopay. Participants’ account holders also can receive funds from other institutions to their debit card accounts instantly.
“Combining our extensive debit network with Obopay’s broad range of
mobile money solutions gives consumers a faster and more efficient way
to pay with their debit card, while also enabling new revenue generating
opportunities for our participants,” said
Mobile money solutions – including instant payment applications for P2P payments, A2A transfers, personal payment acceptance and more – are now available to PULSE network participants.
“Leveraging the connectivity and settlement process we have in place
with PULSE enables us to offer this real-time service,” said
The Obopay and PULSE collaboration provides a significant advantage over payments via Automated Clearing House (ACH), which often take several days to process. Additional advantages for both financial institutions and account holders include:
To take advantage of the new offering, PULSE participants leverage the existing connectivity and settlement processes they already have in place with the network. This makes it easy for participating financial institutions to add new solutions without the need for core banking system integration.
“Enabling real-time access to funds directly from consumers’ accounts
distinguishes us from other payment providers,” said
Founded in 2005,