Enabling P2P payments
PayPal signed a partnership agreement with pan-European provider of online banking platform, IND Group, to offer PayPal money transfer functionalities to bank customers. The companies formed a joint strategy to introduce this standardized online and mobile banking offering in Europe, Middle East and CIS countries.
Email money transfer, powered by PayPal and integrated into IND Group’s platform, is a quick and easy way for bank clients to send funds directly from their online or mobile bank. Without knowing the account number of the beneficiary, money transfer can be made by inputting the email address of the beneficiary – friends, relatives or even businesses. The sender does not need to have a PayPal account – access to online banking and email addresses of the beneficiaries are the only requirements.
By using the PayPal pre-integrated IND banking app, banks can start P2P services on a secured base, with low cost and a significantly smaller timeframe.
In addition to email money transfer, the IND app also includes other PayPal functionalities that can be easily integrated into online and mobile banking: creation of PayPal account, instant top-up of PayPal balance from your bank account and withdrawal of PayPal balance to your bank account.
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