PYMNTS

JULY 17, 2018

The Q2 earnings season has just kicked off, and it’s already helping shedding light on recent developments in the peer-to-peer (P2P) world — most notably, the shape of the ongoing competition between Zelle and Venmo. The good news about Zelle came earlier this week when Bank of America (BoA) released its second-quarter financials.

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Zelle Venmo P2P Privacy 40

PYMNTS

MAY 13, 2019

Perhaps the biggest story in P2P, though, is the ongoing battle between P2P providers Zelle (operated by Early Warning Services ) and Venmo (owned by PayPal ). During Q1 2019, Zelle sent $39 billion through its network via 147 million transactions, the company said in a news release. P2P Marketing. P2P Impacts.

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P2P Zelle Venmo Debit Card 79

PYMNTS

FEBRUARY 1, 2019

The fourth quarter of 2018 was kind to Venmo and Zelle , the two big peer-to-peer (P2P) services that are battling for consumer loyalty and market supremacy — a fight that pits PayPal , the owner of Venmo, against the banks that operate Zelle. PayPal, as a whole, had some 242 customer accounts as of Dec. P2P Numbers.

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Venmo P2P Zelle PayPal 71

PYMNTS

OCTOBER 4, 2017

PayPal-backed platform Xoom, for example, recently launched a new service that quickly processes high-value remittance transactions, a feature that could help Indian citizens living overseas quickly transfer money back home to family and friends. Seeking P2P Payments Domination, Zelle Seeks to Deliver Instant Gratification.

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Zelle P2P Same Day ACH NACHA 40

PYMNTS

FEBRUARY 27, 2017

Walmart showed some early results to goose the gas on eCommerce, which is starting to help the company gain some ground back on Amazon; Zelle is now open for business and coming for Venmo; and Alibaba made its latest big brick-and-mortar play. Zelle Is Officially Out There. Walmart’s Winning Results. It processed $17.6

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Zelle Venmo Online and Mobile Banking P2P 40

PYMNTS

SEPTEMBER 12, 2016

PayPal is making deft maneuvers in its efforts to quickly build and scale a global payments platform. We take a look at the recent goings on in PayPal’s ecosystem. PayPal is intent on being accepted as a method of payment at store checkouts throughout Mastercard’s and Visa’s mobile contactless payments systems.

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PayPal Online and Mobile Banking Visa Venmo 64

PYMNTS

AUGUST 14, 2019

In case you missed it, it seems PayPal-owned Venmo has added another option for instant transfer of money to a bank account, according to a blog post by the company earlier this week (Aug. Now, the company is offering an option to transfer money to the bank without a debit card for the same fee. Zelle Trends.

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P2P Zelle Venmo RTP 49

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. The Standalone Strategy.

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Zelle P2P Credit Union Venmo 40

Tearsheet

JANUARY 30, 2024

In the run-up to the scheduled release of the final quarter results for 2023, PayPal last week unveiled upgrades to its services, including AI-driven personalizations and checkout experiences for both merchants and consumers. It’s something PayPal has been working on for a while.

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PayPal Venmo AI Zelle 52

PYMNTS

NOVEMBER 4, 2019

For starters, Zelle ’s Q3 results show that its year-over-year payment values increased by 58 percent, while transaction volumes rose by 73 percent. In addition, Early Warning Services, the network operator behind Zelle, announced that $49 billion was sent through the Zelle network on 196 million transactions during Q3 2019.

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P2P Zelle Venmo Consumer 40

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, during the first quarter of 2019, Zelle sent $39 billion through its network via 147 million transactions, the company said in a news release.

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P2P Venmo Zelle Law Enforcement 46

PYMNTS

APRIL 9, 2019

The new Disbursements Tracker highlights recent efforts by businesses, banks and government agencies to improve payment practices by delivering on consumers’ speedy expectations, and how th e rise of peer-to-peer (P2P) services like Venmo and Zelle are raising the disbursements bar. Around the World of Disbursements.

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Venmo Zelle P2P Push-to-Card 75

PYMNTS

AUGUST 19, 2019

We believe the Apple Card is best understood as yet another tool in Apple’s digital wallet toolkit, alongside the current services Apple Wallet, Apple Pay and Apple Cash. We suspect that Apple is not finished with its slate of financial services; adding debit could be one such avenue,” the analysts wrote. the company said.

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Venmo Zelle P2P Underwriting 51

PYMNTS

AUGUST 10, 2020

Credit and debit card payments accounted for 75.3 percent of all non-cash payments made, with debit cards being roughly twice as popular as credit cards. The Federal Reserve recently estimated that there were 174.2 billion non-cash payments with a total value of $97.04 trillion in 2018, marking a $10.25

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Direct Deposit Venmo Non-Bank Payments 89

Nanonets

SEPTEMBER 28, 2023

Here are some of the most common: ACH (Automated Clearing House) Transfers Wire Transfers Credit Card/ Debit Card Transactions as EFT Mobile Payments Electronic Checks (eChecks) Point-of-Sale (POS) Payments Direct Deposits Recurring Payments EFT accounts can be checking or savings. For one, you could opt for a paper check.

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Electronic Funds Transfer (EFT) Funds Transfer Wire Transfer Wires 52

Nanonets

SEPTEMBER 28, 2023

Here are some of the most common: ACH (Automated Clearing House) Transfers Wire Transfers Credit Card/ Debit Card Transactions as EFT Mobile Payments Electronic Checks (eChecks) Point-of-Sale (POS) Payments Direct Deposits Recurring Payments EFT accounts can be checking or savings. For one, you could opt for a paper check.

Electronic Funds Transfer (EFT) 52

Electronic Funds Transfer (EFT) Funds Transfer Wire Transfer Wires 52

PYMNTS

JULY 7, 2017

The July PYMNTS.com Faster Payments Tracker™, powered by NACHA, highlights notable developments from across the faster payments landscape, including the debut of Early Warning System’s Zelle Network and how P2P payments could soon be distributed using voice commands. mobile banking consumers to use the platform’s P2P service.

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Faster Payments NACHA Federal Reserve Zelle 47

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. banks offering card-free ATM access — and it is just the latest innovation from the financial institution. So far, Fifth Third is one of only a handful of U.S.

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ATM Zelle Debit Card Venmo 40

PYMNTS

APRIL 12, 2019

Consumers use Venmo and Zelle to quickly settle shared expenses between friends, and they know the money will arrive in their bank accounts within a few minutes — or even seconds. Consumers can receive disbursements in many ways — via direct deposit, debit card, prepaid card and P2P services — but many are not given options.

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Zelle P2P Venmo Direct Deposit 43

PYMNTS

FEBRUARY 27, 2019

But data shows that what consumers increasingly do want is money pushed to them via the alias known as the debit card. Roughly 84 percent of consumers surveyed prefer the debit card to a mobile phone number or email alias. But part of it is the level of trust that consumers have in the product.

Consumer 53

Consumer Debit Card Push-to-Card On-Demand 53

PYMNTS

MARCH 18, 2019

He noted that while every contractor and service provider in his life prefers a different payment method — checks, cash, credit cards, PayPal, Zelle, etc. The low hanging fruit, he noted, is with the card networks and debit cards, since that captures what the vast majority of consumers are carrying.

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Faster Payments Debit Card Zelle PayPal 57

PYMNTS

JULY 27, 2020

They’ve stood up the right pipes, he said — Visa Direct, Mastercard Send, RTP, Zelle and sometimes PayPal — but when it comes to tying all that together into a consumable deliverable with flexible, on-demand payment options, there remains a big gap. It has to be a bigger offer than just pushing to a big bank debit card.”.

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On-Demand Instant Payments Push-to-Card Treasury 91

PYMNTS

SEPTEMBER 3, 2018

This solution will make it easier for receivers in those markets to receive and use funds instantly (via their bank-issued Visa-branded debit card or Visa-branded prepaid card), and senders may choose the option by which to send those funds. Zelle Gains Ground On Venmo. PayPal’s Shopping Spree. million people.

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PayPal Zelle Online and Mobile Banking P2P 40

PYMNTS

AUGUST 14, 2019

Employees who use Instant Financial’s solution receive earnings on prepaid Visa debit cards, which can then be used at point-of-sale (POS) offerings and at participating ATMs and Visa member banks. Many workers expect to be able to receive pay through the same digital payment channels they use as consumers, like PayPal and Zelle. .

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Zelle Point-of-Sale (POS) Payroll On-Demand 43

PYMNTS

MAY 4, 2017

Among the more popular players in the P2P space is Venmo, a mobile payment platform owned by PayPal. Earlier this year, Bank of America became the first major financial institution to introduce Early Warning’s Zelle into its mobile app as a way to compete with Venmo in the P2P space.

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Faster Payments Venmo Zelle P2P 41

PYMNTS

AUGUST 10, 2020

Learning from past mistakes will be important, he said, considering that there were roughly 120 million ACH, 36 million checks and about 4 million debit cards issued in the first funding round. Silicon Valley, marked by, say PayPal or Uber, have long been realizing the value inherent in making disbursements via RTP.

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Real Time Payments RTP TCH Federal Reserve 138

FICO

APRIL 8, 2022

A New York Times story about people being tricked into sending money to fraudsters (known in the UK as authorized push payment [APP] fraud ) on Zelle was one of the top stories for several days running, reverberating across news outlets worldwide. P2P like Zelle, PayPal, Venmo, CashApp). Account type (debit, credit, savings).

Scams 52

Scams TPS Non-Bank Zelle 52

FICO

FEBRUARY 17, 2023

All I really think I need is an ID holder for my driver’s license, since I’ve migrated most other payments options like my debit card and credit cards to my digital wallet (AKA my smartphone). Not in the traditional, physical sense anyway, as my wallet diet has led me to wholeheartedly embrace digital transformation.

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Online and Mobile Banking Scams Debit Card Risk 52

PYMNTS

MARCH 18, 2019

Then came PayPal’s debut of Instant Transfer to Bank. This new feature, available to PayPal customers in good standing, leverages the company’s partnership with Chase, and Chase’s connection to The Clearing House’s RTP network, to move money instantly into the bank accounts of consumers and SMBs. as of January 2019. In the U.S.,

Faster Payments 80

Faster Payments Fed RTP Same Day ACH 80

PYMNTS

AUGUST 14, 2019

The earnings are received on prepaid Visa debit cards, which can then be used at point-of-sale (POS) offerings. Instant Financial is exploring other channels and rails since workers have the expectation for receiving payment through consumer payment channels like PayPal and Zelle.

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Faster Payments Real Time Payments Payments Point-of-Sale (POS) 64

Stax

APRIL 23, 2024

While some direct deposit apps, such as Zelle, Venmo, and PayPal charge their users for same-day transactions and deposits, the Automated Clearing House eliminates the middleman and encourages ease in banking. Most ACH deposits are completed within 1-3 business days.

ACH 88

ACH Direct Deposit ACH Network Wire Transfer 88

EBizCharge

JULY 24, 2024

Moreover, P2P platforms must also comply with the Payment Card Industry Data Security Standards (PCI DSS) when processing debit card and credit card transactions. With its rise in popularity, several payment providers, such as PayPal, Venmo, and Zelle, have established themselves in the P2P payment space.

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P2P PCI DSS Encryption Fraud Prevention 52

CB Insights

AUGUST 23, 2018

By using near-field communication (NFC), physical cards are no longer needed for Chase customers to use ATMs. The payments function includes P2P payments through Chase QuickPay with Zelle and bill pay (for rent, mortgage, utilities, credit cards, auto, and other bills) with Chase Online Bill Pay.

Consumer 76

Consumer Online and Mobile Banking Credit Cards Push-to-Card 76

Stax

JUNE 27, 2024

Some people refer to ACH payments as direct debit, direct deposit, or auto-transfer. ACH is also the technology behind most peer-to-peer money transfer services in the US, including Paypal, Zelle, Cash App, and Venmo. However, banks may charge a small service fee to transfer money to a different bank.

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Wire Transfer Wire Wires ACH 88

FICO

AUGUST 26, 2021

“Do you Zelle?” It’s a question FICO’s fraud head honcho, TJ Horan, pondered back in 2016 , when the nascent real-time person-to-person (P2P) payments service Zelle was relaunched by a small consortium of banks (see below). As it happens, there’s a lot more happening in the real-time payments arena than just PayPal, Venmo and Zelle.

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Real Time Payments Zelle Federal Reserve FedNow 52

PYMNTS

SEPTEMBER 17, 2018

Zelle hadn’t yet reached this small bank, and the instructions for how to enable that deposit weren’t clear enough for he or his bank to navigate. He has a PayPal account, so that’s how I’ll pay him today. Or to buff up PayPal. The outcome, however, using PayPal , is more certain for both the sender and the receiver.

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Rules Zelle Payments PayPal 78

PYMNTS

DECEMBER 24, 2018

The propensity to use credit and debit cards on connected devices is particularly high among Baby Boomers and Bridge Millennials — with 72 percent and 53 percent using these channels, respectively. Credit and debit cards are also the preferred method of paying when consumers travel abroad. 8: Via PayPal.

Consumer 83

Consumer Online and Mobile Banking Debit Card Volume 83