P-to-P payments

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?

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.

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?

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.

There is a growing proliferation of social P2P technologies within the U.K. banking sector, but the market for such payments is vastly different from that in the U.S., where social payment apps have found a welcoming audience.

The new U.S. Faster Payments Council states a clear mission — to promote faster payments in the U.S. But this new entity could butt heads with the Federal Reserve if it thinks the Fed isn't moving fast enough.

Jack Henry & Associates has overcome an obstacle that delayed banks and credit union integration with Zelle, with a hub to streamline the onboarding process. But the new system’s first bank doesn’t go live until May, and the hub won’t hit full stride until next year.

Vipps, which launched in Norway in 2015 as a P2P app accessible to all local bank customers, is integrating invoice and bill-payment capabilities through a collaboration with Nets Group, a Nordic payment service provider.

Driving rapid consumer adoption of faster payments and the bank-run person-to-person payment network, Zelle, has been a core role for Early Warning’s Lou Anne Alexander over the past decade.

Jenifer Swallow has been here before, feeling the excitement of being in in an industry that was about to change commerce forever.