News Topic: P-to-P payments

Bank of America’s P2P transaction volume via Zelle is surging, with millennials driving the bulk of its usage. ... Read full article

Professional Bank and Marquis Bank, both of Coral Gables, have been competing against each other for more than a decade. Now they are merging in hopes of landing larger clients and making better use of technology being developed in Professional's ... Read full article

As the competition mounts to increase adoption rates for person-to-person payment apps, PayPal's Venmo is adding a way for users to quickly move money from the app to their bank account. ... Read full article

Apple's massive user base, fully digital enrollment system, merchant reach and partnership with Goldman Sachs threaten retail banks on multiple fronts. ... Read full article

Albert Ko, who had been the chief transformation officer of Intuit, says he will work to improve Zelle's interface to make it more appealing to consumers. ... Read full article

Avidia Bank joins the network even as other community banks call on the Fed to create its own real-time payment service to compete. ... Read full article

In 2016, a big-bank consortium said that it would charge the same prices to all institutions, regardless of their size. But now the group has added a large caveat to that pledge. ... Read full article

Person-to-person payments have become table stakes for institutions looking to attract and retain younger customers. The service may also be one of the keys to keeping big-tech insurgents like Amazon at bay. ... Read full article

The market for P2P payments is finally taking off after years of false starts, but there are still many unanswered questions. The biggest one: How do banks get value out of offering this service free of charge? ... Read full article

Barclays is preparing to merge its wearable mobile payments product BPay with its more popular Pingit app, after it struggled to attract users. ... Read full article

A man entered a SunTrust branch in Sebring, Fla., and shot and killed five women, four of whom were bank employees; 24 million mortgage documents exposed in data security lapse; the battle for deposits is like 'a steel-cage' match; and more from ... Read full article

The bank-led P2P network Zelle saw its strongest quarterly growth during the fourth quarter of 2018, as payment volume rose nearly 60 percent to $119 billion for the year. But a significant amount of this volume comes from just one bank. ... Read full article

Facebook’s payments ambitions have made banks wary for years, despite many false starts. But now it looks as if Facebook is pivoting to develop a remittance business, starting with a cryptocurrency project in India. ... Read full article

Proponents of real-time payments systems say banks must embrace them given consumer demand for more immediacy and transparency, even if criminals will try to exploit them. ... Read full article

A year after its launch, Zelle’s P2P payment volume has rapidly expanded through usage at the nation’s largest banks. But enabling smaller institutions to offer it to their customers is proving to be more challenging. ... Read full article

Zelle processed 116 million transactions during the third quarter as its payment volume jumped to $32 billion, while Venmo's volume increased 78% to nearly $17 billion. ... Read full article

For more than a year, the central bank has been under pressure to speed the development of a real-time payment system. But it faces tough questions about what its own role should be. ... Read full article

PayNow Corporate enables corporations, businesses and government agencies to pay and receive funds instantly by linking a unique entity number to their Singapore bank account. ... Read full article