Zelle

Zelle is working on ways to ensure that customers can safely pay small businesses as well.

The person-to-person network also saw $28 billion in payments in the quarter and it added more bank members.

Zelle, the bank-owned P2P network operated by Early Warning, saw an 11% increase in payments volume during the second quarter from the previous quarter as it gradually adds financial institutions to its network.

"It was a difficult decision, but we’re at a good spot to do this,” Finch, 55, said in an interview.

Regardless of which bank a consumer uses, the Zelle interface should look more or less the same. This is the part of the customer experience Zelle controls and sells to consumers, making it the best way to deliver its security message.

Banks using Zelle share the good, the bad and the indifferent of the person-to-person payment network.

There are lots of layers technology risk-mitigation features, and in addition, network-level mitigation is provided as well, writes Robb Gaynor, chief product officer at Malauzai.

The bank faces June 15 AML compliance deadline; the features that make Zelle popular with customers entice thieves.

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.

As an industry, we owe it to our customers and end users to deliver banking and payments that function in real-time and meet their expectations, writes Paul Kobos, senior vice president of banking & payments for Gemalto.

To pitch their payments system of the future, U.S. banks hired Daveed Diggs, an actor best known for playing Thomas Jefferson and Marquis de Lafayette in the Broadway musical "Hamilton."

For financial institutions to match Venmo and Apple Cash's power, they need an embedded, mobile and social payment strategy, write Richard Crone and Heidi Liebenguth of Crone Consulting.

The P-to-P payments service promises to clear transactions in near-real time, but many consumers have complained that they have been unable access their money or even open accounts. Zelle has acknowledged the delays and says they are a result of its rigorous enrollment process.

Interac's e-transfer system has jumped in usage, and has become a gateway for myriad other services including a collaboration with MoneyGram.

Some firms are investing in technology to help insurance clients shift to paperless payment processing.

Apple Pay Cash is chasing peer transfer share in a maturing market, going up against long-established services like Venmo, Square Cash and the bank-powered Zelle.

Some of the most successful recent innovations in payments started with peer-to-peer services before evolving into other products, writes Amitaabh Malhotra, chief marketing officer at Omnyway.

The bank-powered P-to-P app Zelle officially launched in June with a mostly consistent brand across all of its bank partners, but it still struggles with awareness over PayPal's Venmo, which doesn't share its advantage of living inside banks' mobile apps.

With Apple’s WWDC, Zelle, PayPal’s Venmo and Square Cash, competition in the consumer payments space is about to kick into high gear, writes Josh Hawkins, vice president of marketing for the Boston-based digital payments company Circle.

Many bank-driven responses to fintech startups are "force fitting" traditional services, and don't fully meet new consumers' demands for social interaction, writes Ted Bissell, global director for digital consulting at Axis Corporate.