CashEdge Introduces "Me to Me" Transfers

CashEdge has announced the launch of Small Business Me-to-Me Transfers, an online funds transfer product designed specifically to help financial institutions meet the needs of small businesses.

Small Business Me-to-Me Transfers, part of the TransferNow(TM) for Small Businesses Product Suite, enables financial institutions to offer secure inter-institution funds transfer services to their small business customers. This allows financial institutions to enhance their online offering to small businesses, improve customer satisfaction and generate incremental revenue streams. The product provides automated identity authentication and funding account verification processes that satisfy all business, risk and compliance requirements, enabling small business customers to safely transfer money between their accounts held at over 23,000 banks, brokerages and credit unions via the ACH network.

Small Business Me-to-Me Transfers leverages the Company's industry leading funds transfer platform, TransferNow, which has been adopted by more than 600 financial institutions and processed more than $38 Billion in online funds transfers in 2007. It is a direct extension of CashEdge's flagship retail banking product, Consumer Me-to-Me Transfers, which has been available to consumers for more than eight years and is currently used by five of the nation's top ten financial institutions.

"Today, more than 60 percent of small businesses bank online, and these business owners are looking for online capabilities that provide greater control over their cash management activities," said Sanjeev Dheer, CEO and President of CashEdge. "CashEdge has successfully leveraged its online funds transfer expertise to create a product that enables financial institutions to better serve this traditionally underserved market segment. Me-to-Me Transfers enables small businesses to seamlessly move money between business and personal accounts - providing greater flexibility and improved cash management. Financial institutions that offer small business customers these types of services are able to grow their customer base and generate new fee revenue through an extremely profitable service."

Small Business Me-to-Me Transfers enables small business owners to choose between different transfer options. These include next-day funds transfers for urgent cash flow needs and one-time, recurring and future-dated transfers - for improved overall cash flow management.

This product is one of several stand-alone modules that make up the TransferNow for Small Businesses Product Suite. The TransferNow for Small Businesses Product Suite also includes an Invoicing and Payments module, which enables small business to send electronic invoices and receive electronic payments from customers, and Employee Payments and Vendor Payments modules, which enable direct electronic payments to these third parties. All of these modules are designed to help small businesses better manage their cash flow activities.

To learn more about CashEdge's Small Business Me-to-Me Transfers, visit http://www.cashedge.com.