Online and Mobile Banking Technology Simplifies How People Manage Their Finances
OAK RIDGE, N.J., May 20, 2014 - Lakeland Bank announces the addition of Popmoney® to its suite of consumer Online Bill Pay and Mobile Banking services. Popmoney® is an electronic payment service that allows users to send, receive, and request money from an individual using an email address or mobile phone number. Consumer use of online and mobile technology to access financial services continues to grow with 24% of smartphone users making mobile payments in the past 12 months according to the Federal Reserve Board’s Consumers and Mobile Financial Services 2014 survey.[i]
“Online and mobile technology is shifting the way consumers make payments and manage their finances,” said Robert Vandenbergh, regional president and chief operating officer of Lakeland Bank. “Popmoney delivers on our commitment to provide Lakeland Bank customers with the latest in banking technology to help simplify banking.”
Lakeland Bank customers simply enroll in Online Bill Pay to access the Popmoney® service. To send or request money, customers enter either the recipient’s phone number or email address, along with the desired dollar amount and an optional personal message. Customers can also send a Popmoney® eGreeting Card if they are making a payment for a special occasion.
The money is then transferred from the sender’s bank account and deposited directly into the recipient’s account. The recipient will be notified of the payment via email or text along with instructions on how to claim the funds.
“Using Popmoney to make a payment is more secure than mailing a check, thus reducing your risk of identity theft,” said Vandenbergh. “The number of identity theft victims each year is alarming and, at Lakeland Bank, we are always seeking ways to protect our customers with products like Popmoney and our identity theft protection offered with Elite Checking.”
Popmoney reduces the need for writing checks or paying with cash. Some examples of Popmoney® applications include splitting a dinner bill with friends, paying a babysitter, or paying the landlord.
To learn more about Popmoney®, call 866-224-1379, visit your local Lakeland Bank office, or watch our commercial.
About Lakeland Bank
Lakeland Bancorp, the holding company for Lakeland Bank, has $3.3 billion in total assets with 52 offices spanning eight northern New Jersey counties: Bergen, Essex, Morris, Passaic, Somerset, Sussex, Union and Warren. Lakeland Bank, headquartered in Oak Ridge, offers an extensive array of consumer and commercial products and services, including online and mobile banking, localized commercial lending teams, an expanded residential mortgage lending platform and 24-hour-or-less turnaround on consumer loan applications. For more information about the full line of products and services, visit LakelandBank.com.