P-to-P payments

The payments industry has been overrun with innovation in mobile, wearable and cloud-based digital payments. But many niches are years — if not decades — behind this trend.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.

When Zelle launches, it will not allow users to share information about their payments with other folks in their network. That decision puts the P-to-P service on a different course than Venmo, its fast-growing rival.

When Zelle launches, it will not allow users to share information about their payments with other folks in their network. That decision puts the P-to-P service on a different course than Venmo, its fast-growing rival.

EQ Bank, BankMobile and solarisBank offer insights into how they built their digital-only banks with design thinking, new products and money management tools.

A consortium of 106 Norwegian banks are taking over Vipps, the mobile payments service DNB Group launched that supports person-to-person, mobile, online and in-store payments across Norway.

Most talk around bots is decidedly consumer-focused, enabling ways for people to schedule an Uber or order lunch. But PayPal, in working with the business chat client Slack, is setting a much different tone.

Users can set up organizations specific to money transfers for events or groups, allowing invitations to be sent to up to 50 people through a text message or push notification.

The upcoming launch of Zelle gives Chase, B of A, Wells Fargo and other large banks an opportunity to correct their past mistakes.

BMO Harris Bank is providing its customers with a branded P-to-P payment app, continuing a trend of developing mobile payment and banking services.

Fraudsters are licking their chops at the thought of infiltrating person-to-person payment systems and enabling a never-ending flow of small-value transactions — with the potential to strike bigger accounts.

Fraudsters are licking their chops at the thought of infiltrating person-to-person payment systems and enabling a never-ending flow of small-value transactions — with the potential to strike bigger accounts.

Banks have traditionally used consumer products to serve small businesses. The growth of alternative payment options means banks may lose customers, particularly among young business owners.

Miami-based NovoPayment, a payment provider with broad reach in Latin America, has upgraded its platform to support corporate bots enabling consumers to conduct person-to-person payments and other transactions within Facebook Messenger, the company said in a Jan. 9 press release.

The growing number of P-to-P payment options, including Zelle and Venmo, typically rely on a link to a full-featured bank account to fund transfers. ChimpChange is looking at a different audience.

Consumer tastes for person-to-person payment apps differ widely from one market to another, and also change rapidly over time.

The U.S. may never face the type of crisis sparked in India through a government decision to recall high-currency bills to curb fraud. But the countries and their financial institutions have something in common — they welcome any technology that introduces digital money in lieu of cash.

FIS has added Zelle, Early Warning’s P-to-P system (formerly clearXchange), to its offerings as it seeks to expand its real-time payments suite.

Jack Henry & Associates is adding the Zelle person-to-person and faster payment services to its current P-to-P features for credit union and bank clients.

When Stripe Inc. launched its e-commerce payment services in 2011, the San Francisco-based startup wasn't presenting itself as a major threat to online giant PayPal — and even with its new $9.2 billion valuation, it still might choose a different path.