Bye Bye Cash, Obopay Offers Mobile Money for Banks

Mobile payment provider Obopay, announced Mobile Money for Banks, that allows bank to offer their own branded mobile money service. 

Mobile Money for Banks includes the ability to send and transfer money, makes payment card acceptance available to everyone and can be implemented in 30
days or less.

The claim that Mobile Money for Banks will offer the opportunity to replace a
substantial amount of cash and check transactions, which turns a cost
center into a revenue opportunity for the bank. 

They hope that banks will us Mobile Money to compete and that
consumers would prefer to use a mobile payment system from their trusted
financial service provider.

Mobile Money for Banks
gives financial institutions the opportunity to bring to market quickly
branded smart phone, Blackberry and iPhone applications, as well as
Mobile Internet, SMS and IVR services and a full range of website
capabilities.  It is quick and low cost for banks to deploy because it
leverages established connections and payment processes to existing
payment networks and it provides maximum mobile coverage through
established distribution with mobile carriers..

Get Paid by Obopay -enables payments to be
received for products or services.  Anyone, including small businesses
or individuals, can accept debit card or ACH payments from anyone.
 Money is received directly into the recipient's bank account.  This
includes the capability to accept payments directly from a mobile phone,
website or email.  Obopay offers a number of tools that people can use
to get paid including payment buttons for websites, payment links for
emails or email invoices, and social networking widgets. 

Mobile P2P - enables bank customers
the ability to link and send money to anyone directly from their own
bank account using a debit card. 

Family money by Obopay - enables bank customers
to send money instantly to family members for emergencies or regularly
scheduled payments.  Family members receiving the money can direct it to
their own bank account if they have one or, if the senders prefer, they
can provide them with their own personalized prepaid card, which is
great for teens.  Parents can "top-off" funds instantly from their
accounts or on a regularly scheduled basis.  Use of the prepaid debit
card allows parents to monitor spending in real time.  

Transfer Money - enables
account-to-account transfers, allowing customers to exchange funds from
their bank accounts to accounts outside of their bank.  This is
accomplished by simply linking the accounts they want to send money to
by entering that account's debit card number or its bank account and
routing number.