PYMNTS

JUNE 25, 2019

Peer-to-peer (P2P) payments continue to gain popularity among consumers, with two of the biggest providers, Zelle and Venmo, reporting ongoing and significant gains. For instance, according to one report from LendEDU , a student loan refinancing company, about 33 percent of millennials had paid for drugs via Venmo — and that was in late 2017.

P2P 46

P2P Venmo Zelle Law Enforcement 46

PYMNTS

NOVEMBER 6, 2019

bank account have access to Zelle in their mobile banking app,” Lou Anne Alexander, group president, payments solutions at Zelle operator Early Warning, said in a press release. Last month, Bank of America revealed that it saw a 76 percent year-over-year increase in Zelle payments in Q3. Instant Payment Innovations.

P2P 42

P2P Zelle Venmo Debit Card 42

PYMNTS

NOVEMBER 4, 2019

bank account has access to Zelle in their mobile banking app,” Lou Anne Alexander, group president of payments solutions at Early Warning, said in a press release. Venmo, the P2P service owned by PayPal, has a Q3 processed volume of some $27 billion, while P2P volume stood at $51 billion. Other Signs of Popularity.

P2P 40

P2P Zelle Venmo Consumer 40

PYMNTS

JUNE 21, 2017

Yesterday, PayPal announced news that soon, Venmo and PayPal users will be able to send money transfers via its mobile app in a heartbeat to anyone they want — and have the receiver access and use those funds — in a heartbeat — anywhere that Visa and Mastercard debit cards are accepted. So, anywhere.

Venmo 53

Venmo PayPal Online and Mobile Banking Issuers 53

PYMNTS

MARCH 20, 2018

Fifth Third Bank has announced that its customers can now access the bank’s ATMs without having to use their debit cards. Instead, Fifth Third customers simply need to use the bank’s mobile app to access all of the ATM functions. In addition, the bank announced it is one of a few banks based in the U.S.

ATM 40

ATM Zelle Venmo Debit Card 40

FICO

AUGUST 26, 2021

The second most popular app, Venmo, was used by 14% of consumers in 2020. As it happens, there’s a lot more happening in the real-time payments arena than just PayPal, Venmo and Zelle. Today, many consumers are hard-pressed to find a single cancelled personal check on their monthly statement.

Real Time Payments 52

Real Time Payments Zelle Federal Reserve Wire Transfer 52

PYMNTS

MARCH 8, 2018

At this time, Square doesn’t have a bank charter. But this feature — coupled with the app’s debit card that is issued by Sutton Bank — enables the company to provide traditional banking features to its customers. iPhone App Store — one spot ahead of PayPal and three spots ahead of Venmo.

Direct Deposit 42

Direct Deposit ACH Venmo Debit Card 42

PYMNTS

JULY 7, 2017

mobile banking consumers to use the platform’s P2P service. On the established side, PayPal is preparing to compete with Zelle and recently launched its new “instant transfer” service that allows users to send money from their Venmo account to a Mastercard or Visa debit-card-supported bank account.

Faster Payments 47

Faster Payments NACHA Federal Reserve Zelle 47

FICO

JULY 28, 2021

There are person-to-person payments via Venmo, Zelle, and a host of other services; payments via ApplePay, SamsungPay and more; as well as an increasing number of ACH transactions. Today, many consumers are hard-pressed to find a single cancelled personal check on their monthly statement.

NACHA 52

NACHA ACH Scams Account Validation 52

CB Insights

SEPTEMBER 10, 2019

There have been some high-profile failures, such as JPMorgan’s short-lived mobile bank app Finn. But incumbent banks are also at the forefront of the most promising innovations in personal finance today, such as virtual credit cards. In one quarter in 2018, it processed $14.2B in volume — a 78% bump year over year.

Finance 77

Finance Online and Mobile Banking Advisors Micro-Entry 77

CB Insights

DECEMBER 4, 2019

That same year, the company acquired TextPayMe , a peer-to-peer (P2P) mobile service that was relaunched as Amazon Webpay in 2011. Webpay failed to gain user traction and was shut down in 2014, unlike up-start Venmo (now a part of rival payments processor PayPal). It’s likely that Amazon was too early to P2P payments.

Online and Mobile Banking 101

Online and Mobile Banking Push-to-Card Payment APIs and Integration Non-Bank 101

FICO

FEBRUARY 17, 2023

From the rapid and sudden shift to online and mobile banking, to exploring artificial intelligence (AI) and hyper-personalization , the finance world is changing quickly. Banks and other financial institutions are adopting a digital first strategy, and there’s no going back.

Online and Mobile Banking 52

Online and Mobile Banking Scams Debit Card Risk 52

PYMNTS

OCTOBER 5, 2017

Notable players in the FinTech P2P space include Square Cash and PayPal-owned Venmo, which has gained popularity for incorporating social media elements to appeal to younger consumers while helping users overcome the “ awkwardness of money ,” as the company likes to say. billion during the first half of 2017.

Zelle 40

Zelle P2P Credit Union Venmo 40

FICO

APRIL 29, 2022

For the options available at point of sale (POS), along with credit cards and a host of “-Pay” apps, consumers may soon have another choice on the check-out screen at US retailers: Zelle. Last year, people sent $490 billion through Zelle , compared with $230 billion through Venmo, its closest competitor. Donate where you work. .

Retail Payments 52

Retail Payments Zelle Consumer Romance Scams 52

PYMNTS

AUGUST 5, 2016

Visa also announced this week that it’s already running real-time, ubiquitous Visa Direct rails that would provide a similar capability for Early Warning’s clearXchange P2P network members with Visa-branded debit products, as well as a handful of other partners, including Fiserv (Popmoney), Square and PayPal/Venmo.

Bitcoin 43

Bitcoin Multi-Currency Push-to-Card Chip Cards 43