IND Group, a European online banking technology provider, has partnered with PayPal to allow bank customers to transfer money to family and friends using their email addresses.
The person-to-person service allows customers to send funds without knowing the recipient's account number. The sender needs access to online banking, but doesnt need a PayPal account and can send money to individuals or businesses.
The online and mobile banking offering will be launched in Europe, the Middle East and the commonwealth of independent states countries.
Our goal is simple: We want to offer more payment choices for customers, create better opportunities for engaging customers and solve problems to make their experience better, says Balázs Vinnai, CEO of IND Group, in an Aug. 27 press release. The success of the recent implementation of IND Group-PayPal money transfer with Alior Sync, one of the leading banks in Poland, is just a perfect proof of that.
PayPal partnered with Alior Sync, the virtual banking brand of Alior Bank, in 2012. Alior Sync uses technology from PayPal and IND for transfers.
The IND app will also allow customers to set up a PayPal account and move funds between PayPal and their bank account.