Press
CU24’s POCKET2POCKET to be available through CU Mobile Apps
TALLAHASSEE, FL. & FRANKLIN, TN (July 24, 2014) — CU Mobile Apps and CU24 today announced a strategic alliance to bring POCKET2POCKET, CU24’s mobile person-to person money transfer service, to CU Mobile Apps’ client credit unions.
“We’re excited about the future of mobility,” said Rick Hargis, Managing Partner of CU Mobile Apps, “and we’re proud to provide this technology to credit unions to keep them in the forefront of mobility—not behind the times.” He cites research findings that growing numbers of potential bank customers and credit union members are actively seeking mobile P2P solutions. “Real-time is the critical advantage they’re looking for, and that’s what CU24 enables us to offer our client credit unions and their members. It truly is a better mobile money transfer solution.”
POCKET2POCKET is the most innovative mobile money transfer service in the industry, confirms Joe Woods, CU24 Vice President, Sales & Relationship Management. “P2P offers a new level of efficiency,” said Woods. “POCKET2POCKET is an advanced real-time EFT solution, rather than the traditional ACH (automated clearing house) based method that can delay funds transfer by anywhere from 24 to 72 hours. “We are especially pleased to be partnering with CU Mobile Apps,” he added, “and we look forward to the potential it offers for sharing the convenience of our POCKET2POCKET service with many additional users.”
The majority of users of this technology are between the ages of 30 and 39, Hargis reports, representing active borrowers and investors with growing families—an attractive market segment for financial institutions.
The new POCKET2POCKET feature will be added as a tab to the app that existing CU Mobile Apps credit union clients are already accessing, explained CU Mobile Apps partner Tom Gray. “It works like PayPal within the credit union and financial industry. Just open your credit union app, click on ‘P2P’, identify the person you wish to pay, their cell number and the dollar amount—then hit ‘send’ and it’s done automatically, instantaneously. Our partnership with CU24 has provided us with this quick, easy way for people to pay other people, whether on a one-time or recurring basis, directly from their debit card accounts.”
“Once you’ve used POCKET2POCKET, you’ll never mail anyone a check again,” predicts Hargis. “And you’ll wonder how you ever managed to get by with those antiquated ACH systems!”
ABOUT CU24
CU24 is a credit-union owned cooperative that provides a range of services tailored to small and midsize credit unions. CU24 operates the largest credit union-owned ATM and POS network in the United States, and provides access to the largest network of surcharge-free ATMs. The company also provides a range of innovative services to help credit unions compete and improve their members’ lives. CU24 demonstrates every day that you don’t have to be big to be powerful.
ABOUT Member Services Solutions, LLC
CU Mobile Apps is a trademarked product available through Member Service Solutions, LLC, a respected provider of insurance and financial solutions for credit unions and financial institutions. Additional information is available at www.cumobileapps.com and www.memberservicesolutions.com or by calling (800) 537-9035 Extension 105.