Payments Source

MARCH 7, 2018

By adding direct deposit for payroll, Square is diversifying the Cash app as it competes in the P-to-P space with Venmo and Zelle.

Zelle 62

Zelle Direct Deposit Venmo Payroll 62

PYMNTS

AUGUST 10, 2020

Direct deposit is the most popular among consumers at 47 percent, with PayPal, Venmo and Zelle — all of which take little to no effort from customers to receive payments — collectively accounting for 27 percent. Eight percent would be even more willing if such deposits came through in minutes.

Direct Deposit 89

Direct Deposit Venmo Non-Bank Payments 89

Stax

APRIL 23, 2024

TL;DR Nearly 93% of Americans receive payments through direct deposit; Automated Clearing House makes it simpler for employers to manage funds without handing out physical checks or dealing with pesky extra fees. Many small businesses choose ACH operators because they are more convenient than most direct deposits.

ACH 88

ACH Direct Deposit ACH Network Wire Transfer 88

PYMNTS

OCTOBER 9, 2020

Additional investors included Founder Collective, Walkabout Ventures, former Venmo COO Michael Vaughan and Seamless Founder Paul Appelbaum. “We People who use Clair for direct deposit can get free advances on a percentage of their wages. New York City-based FinTech startup Clair has raised $4.5

Direct Deposit 101

Direct Deposit CFPB Venmo Faster Payments 101

PYMNTS

SEPTEMBER 17, 2020

Square, for instance, recently announced it would be letting Cash App users access wages earlier than usual, which could be an incentive for users to sign up for direct deposit through the app. PayPal's Venmo also allows users access wages early.

PayPal 94

PayPal Visa Direct Deposit Shutdown 94

PYMNTS

JULY 26, 2018

Venmo , the P2P service owned by PayPal , took in more than $14 billion in payments volume during the second quarter of 2018, a 78 percent year-over-year increase. Company officials also seemed pleased with their efforts to introduce more revenue-attracting services to Venmo — a positive sign for the spread of P2P payments as a whole.

Zelle 42

Zelle Venmo P2P PayPal 42

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 ). Venmo, meanwhile, stood out as one of the best bits of news from PayPal’s Q1 earnings. Anyone with a bank account and debit card can use Venmo, a likely factor in its P2P reach.

P2P 79

P2P Zelle Venmo Debit Card 79

Payment Savvy

MAY 16, 2023

Types of ACH Transfers Direct Deposit Direct deposits are electronic transfers of funds from governments or businesses directly into a recipient’s bank account. By using direct deposits, recipients can access their funds quicker and more securely compared to traditional paper checks.

ACH 94

ACH Same Day ACH Direct Deposit Consumer Financial Protection Bureau (CFPB) 94

PYMNTS

DECEMBER 23, 2019

Over P2P payments, security at the gas station point of sale (POS) and even over direct deposits, there were a lot of moving parts last week that apparently had some issues moving in tandem. Venmo and PNC’s Spat Over Zelle . Plaid is a data aggregator that connects apps including Venmo to financial institutions.

Venmo 52

Venmo Zelle Direct Deposit Federal Reserve 52

PYMNTS

MARCH 30, 2020

And the pandemic appears to be accelerating the shift from paper checks and direct deposit to more flexible electronic payments such as PayPal and DailyPay, CNBC reported. And while direct deposit remains the dominant form of payment at 80 percent, nontraditional payment methods have been making inroads.

Direct Deposit 52

Direct Deposit Venmo PayPal Zelle 52

Stax

SEPTEMBER 17, 2024

ACH is a digital extension of the paper check and is often referred to as auto-pay, direct debit, and direct deposit. ACH transfers can either be direct deposits (ACH credit transactions) or direct payments (ACH debit transactions). A typical ACH transaction is like a machine with multiple moving cogs.

Wire Transfer 88

Wire Transfer Wire Wires ACH 88

CB Insights

AUGUST 2, 2018

Below, we breakdown how six non-bank fintechs — Square, Venmo, PayPal, Acorns, SoFi, and Stash — are creating new digital products and their strategies for enticing customers to sign up. Users can increase their cash balance in a variety of ways: bank transfer, direct deposit through bank partnerships, or via in-app P2P exchanges.

Debit Card 71

Debit Card Checks Accounts FinTech 71

Payment Savvy

NOVEMBER 8, 2022

The main types of EFT include banking, mobile banking (such as Venmo, Stripe, and Paypal), digital wire transfers, and transferring between bank accounts. Direct deposit, credit card transactions , ATM withdrawals, e-checks, and telephone payments are all types of EFT payments under the broad umbrella of EFT payment processing.

ACH 98

ACH Payments Debit Card Online and Mobile Banking 98

PYMNTS

FEBRUARY 13, 2020

“We only refund by check once a week, [and] we encourage direct deposit because we feel that is a more secure means of transmitting the funds to the students,” she explained. We cannot mandate direct deposit for federal [aid], … per [a] Department of Education regulation,” Rossiter clarified. “So,

Direct Deposit 52

Direct Deposit ACH Checks P2P 52

PYMNTS

JUNE 29, 2020

With the Wealthfront mobile app, customers with direct deposit can get paid up to two days early, as well as set up direct deposit for other payments like a tax refund or company expenses.

Accounts 60

Accounts Direct Deposit Tax Refunds FinTech 60

PYMNTS

SEPTEMBER 8, 2020

Yet, the way consumers receive disbursements stands in stark contrast to how many of them make payments today, with one-touch simplicity of peer-to-peer (P2P) apps like Venmo and digital wallets like Apple Pay. The share that has received more than one disbursement has grown even more sharply, to more than 52.2

Small Business 73

Small Business Instant Payments Venmo Direct Deposit 73

PYMNTS

FEBRUARY 13, 2020

Yet, even as they wield mobile devices to conduct all manner of daily activities, there’s room for a bit of human touch as the financial journeys get more complicated — as these younger customers move beyond Venmo, and start considering the finer points of taking out a mortgage. Trust still matters.”.

Online and Mobile Banking 92

Online and Mobile Banking Venmo Direct Deposit Deposit Account 92

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.

Zelle 43

Zelle P2P Venmo Direct Deposit 43

PYMNTS

JANUARY 21, 2020

The payroll has not seen much disruption since the introduction of direct deposit to accelerate workers’ access to earned wages. But a new generation of workers is now driving monumental changes in the way businesses employ and pay talent, with their participation in the gig economy a key driver of those shifts.

Payroll 68

Payroll Economy On-Demand Direct Deposit 68

Stax

JULY 9, 2024

P2P payments, such as Venmo, PayPal and the Cash App, are popular among consumers. An ACH credit is commonly used for transactions like receipt of direct deposit payments. Now, they’re increasingly being used by businesses as well, facilitated by apps such as Venmo, PayPal, and the Cash App.

Electronic Fund Transfer Act (EFTA) 88

Electronic Fund Transfer Act (EFTA) ACH Electronic Funds Transfer (EFT) Funds Transfer 88

Payment Savvy

DECEMBER 11, 2023

Whether it’s receiving your paycheck through direct deposit or paying your bills online, ACH payment solutions have become an integral part of our daily lives. Two Types of ACH Transfers ACH transfers encompass two primary types: ACH direct deposits and ACH direct payments.

ACH 52

ACH Wire Transfer Direct Deposit Wire 52

PYMNTS

FEBRUARY 24, 2020

Such entities cannot just grab any digital payment solution they find, either, as ad hoc workers have specific payment needs to address — simply providing automated clearing house (ACH) or direct deposit services will no longer cut it. Those individuals are likely to prefer payouts that do not rely on such cards.

Online and Mobile Banking 62

Online and Mobile Banking Payments ACH Economy 62

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.

Electronic Funds Transfer (EFT) 52

Electronic Funds Transfer (EFT) Funds Transfer Wire Transfer Wire 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.

Electronic Funds Transfer (EFT) 52

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

Stax

JUNE 27, 2024

They’re mostly used to process direct deposits and payments. 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.

Wire Transfer 88

Wire Transfer Wire Wires ACH 88

Nanonets

APRIL 8, 2024

Examples include direct ACH payments for utility bills, to a friend as an alternative to wire transfers, and to your credit card company to pay your monthly statement. Other apps: A range of mobile payment processing apps give on-the-go flexibility and ease of use, including Venmo, PayPal , and CashApp.

ACH 52

ACH Wire Transfer ACH Network Tax Refunds 52

PYMNTS

JANUARY 23, 2020

Only 3 percent received them via direct deposit that same year. Mastercard and Visa have developed faster payment rails of their own, and mobile applications like Venmo and Zelle are steadily increasing their hold over person-to-person (P2P) transactions.

Instant Payments 56

Instant Payments Real Time Payments Online and Mobile Banking Payments 56

PYMNTS

OCTOBER 4, 2017

Financials services firm Visa and payment processing company Vantiv recently partnered to offer small businesses a new service called FastAccess Funding that enables merchants to have settlement payments directly deposited into their debit cards instead of waiting for funds to arrive following ACH processing.

Zelle 40

Zelle P2P Same Day ACH NACHA 40

Nanonets

APRIL 29, 2024

While limited in some respects, users can send invoices or payment requests directly to customers and clients and get paid via PayPal, credit/debit card , ACH, Apple Pay, and even Venmo. The lowest tier, Basic , is free but offers just five free monthly ACH payments. Beyond that, you’ll pay $0.50

ACH 52

ACH Online and Mobile Banking Returns Void 52

PYMNTS

MAY 6, 2019

In a P2P situation, a Venmo user can send money to a friend’s account, while a B2C transaction might involve a restaurant pushing payments to disburse wages to waitstaff, placing the funds directly onto employees’ prepaid debit cards or into their bank accounts. Merchants’ banks cannot proactively remove money from customers’ accounts. .

Push-to-Card 44

Push-to-Card Risk Debit Card B2C 44

PYMNTS

OCTOBER 16, 2017

Once done with shopping, the user takes a photo of the purchase receipt and the Ibotta app will match the items with saved, personalized offers, then disburse cash back rewards to the user’s Venmo or PayPal account. considerably lower than other payment options including instant credit, direct deposit and cash.

Checks 40

Checks Venmo Credit Cards Consumer 40

Nanonets

SEPTEMBER 1, 2023

Unlike the drawn-out process of paper checks, digital payment methods offer simplicity, with funds directly deposited into vendor's bank accounts – a convenience vendors appreciate. The absence of immediate bank payment options has spurred the proliferation of various digital wallets like Venmo.

FedNow 52

FedNow Wire Transfer Federal Reserve ACH 52

FICO

DECEMBER 20, 2022

Another proof point about the growth of new payments channels — Amazon recently announced that folks can now use Venmo to make payments. Most of that growth, according to NACHA , has come from payroll by direct deposit and consumers’ electronic bill pay. And PYMNTS.com says the U.S.

Digital Payments 52

Digital Payments Scams BNPL ACH 52

PYMNTS

MAY 22, 2018

According to PYMNTS’ own research, 82 percent of customers make use of direct deposit , while 96 percent of consumers say they are dissatisfied with checks. For the Ingo and Visa Direct relationship, bill pay is on the horizon (allowing for bill payments in real time), and the firms are eyeing cross-border payments as well.

Push-to-Card 40

Push-to-Card Same Day ACH ACH Payments 40

PYMNTS

JANUARY 2, 2017

Britt said the average Chime direct deposit user logs on to the app on a daily basis to stay on top of their finances. We have seen the rise of PayPal, Venmo, Alipay, and now, in parts of the world, alternative payments are preferred over credit cards,” said Hull.

ACH 49

ACH Online and Mobile Banking Cross-Border Same Day ACH 49

PYMNTS

APRIL 26, 2018

Growth was the big story: PayPal saw transactions on its platform increase, its user base swell by an additional 8 million active users and its P2P platform Venmo rapidly grow its footprint. Consumers can also add direct deposit services to their account or leverage mobile check cashing. “It

Financial Inclusion 51

Financial Inclusion PayPal Underserved Push-to-Card 51