TALLAHASSEE, Fla. (3/11/14)--CU24, a credit union-owned electronic funds transfer and payment-related services company, and Acculynk, a provider of secure online transaction technology, Monday unveiled POCKET2POCKET, a mobile-enabled solution that allows credit union members to conduct real-time financial transactions.
"POCKET2POCKET gives credit union members a virtual ATM that allows them to send money to a friend or family member via their smartphone, whenever and wherever they want, and with no hassle and no delay," said Mansel Guerry, CU24 president/CEO. "So if we go to lunch and you pick up the tab and I owe you $15, I don't have to worry about tracking you down, or mailing it to you. This is a service that helps small to midsize credit unions stay toe-to- toe with the big banks and larger credit unions that have deeper pockets and greater resources."
POCKET2POCKET is designed to be faster, easier and more secure than ACH-based person-to-person mobile-payment solutions, CU24 and Acculynk said.
The brandable service relies on electronic fund transfer technology, so money takes minutes to transfer to the recipient. No pre-registration is required for users to send or receive money. Users only need an e-mail address or the mobile phone number of the recipient to send funds. The recipient receives a text message or email alert that the funds are available.
POCKET2POCKET is secured by Acculynk's patented security technology. Users enter their debit account numbers into a graphical PaySecure PIN pad to make a transfer.