Credit union’s `Popmoney’ pays other people with smart phones

San Diego County Credit Union (SDCCU), San Diego’s largest locally-owned financial institution with three local East County branch offices in El Cajon, La Mesa and Santee, has renamed its electronic person-to-person payment service to Popmoney, based on the acronym “pay other people,” and added features to the service.

Instead of writing a check or going to an ATM, SDCCU customers can use Popmoney with their smart phone to “pay other people” (pop) using a recipient’s e-mail address or mobile phone number. Recipients will receive an e-mail or text message with details on how to claim their money and funds can be deposited in accounts in as little as one business day.

SDCCU said new Popmoney features include the ability to send e-greetings to recipients, add multiple e-mail addresses and mobile phone numbers and utilize a centralized dashboard showing deposited payments and payment requests. Popmoney is part of SDCCU’s free online bill pay platform called Bill Payer Plus. Popmoney’s previous name was ZashPay.

Popmoney is offered at more than 1,400 financial institutions in the U.S. served by Fiserv, Inc. of Brookfield, Wis. (NASDAQ: FISV), a leading provider of information management and electronic commerce systems for the financial services industry, and CashEdge, a division of Fiserv and the maker of the Intelligent Money Movement platform, which processes nearly $50 billion in online funds transfers annually.

SDCCU, with $5.7 billion in assets, operates 28 branches in San Diego, Riverside and Orange counties. SDCCU’s 235,000 customers can access more than 20 free services, including 30,000 surcharge-free ATMs.