Obopay and Star have recently announced their new alliance which leverages the real-time nature of EFT networks to instantly deliver person-to-person money transfers.
Yet, the devil’s in the details and this scheme, like all others, has to build an audience.
Our instant transfer to over 80 million STAR debit accounts (at over 4800 banks and credit unions) in the US is unique in the market – and the sender need not be in the same bank as the receiver. Instant is expectation in mobile. Many of us have been conditioned to waiting for transfers into a bank account – like if I use PayPal it could take days to show up in my bank account. But in mobile everything is instant – calls, texts, application downloads – no one waits. So for this mobile generation they want things to happen as fast as a text message. We deliver this. No more waiting to have you money where you want it.
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