PULSE and Obopay partner to provide real time payment solution

Real Time Payments

The solution will enable issuers on the PULSE network to offer real time person-to-person and account-to-account money transfer services, as opposed to payments via Automated Clearing House (ACH) which typically take several days to process. Partaking account holders can also receive funds instantaneously from other institutions. (view press release)

Participating financial institutions can add the new solution without core banking system integration by leveraging existing connectivity and settlement processes already in place in the network.  

Michael Diamond, senior vice president of business development at Obopay claims “ours is the only solution in the industry to offer instant transfer capability across financial institutions and payment networks. This enables us to help meet consumer’s real world payment needs, which can range from getting funds to family members to getting paid for goods and services as quickly as possible.”

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