P-to-P payments

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.

Few of Apple's numerous patent applications make it to market, but if the consumer electronics giant follows through on one filed last week, iPhone users may have the Siri virtual assistant helping them with person-to-person payments through the iMessage platform.

Zopa is moving away from its longtime status of being a non-bank to apply for a banking license through the Prudential Regulation Authority and the Financial Conduct Authority.

PayPal has added support for Apple Inc.’s Siri voice-command feature for person-to-person payments, following Apple's decision to open Siri to third-party developers.

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When Android Pay launched, Google Wallet became a P-to-P service. That market's getting popular, and Google is responding with a web upgrade.

PayPal still has a big lead over banks’ digital payment offerings, despite the many advances banks have made in recent years, a new study suggests.

The race to dominate person-to-person transfers has been a curious one so far, because P-to-P typically isn’t a money-maker for banks or even for PayPal, whose Venmo unit is generating red-hot growth this year in the category.

When Early Warning acquired clearXchange—soon to be renamed Zelle—late last year, the acquisition was applauded by banks that make up the P-to-P payments network because it brought Early Warning's various fraud detection technologies into play.

SimplyTapp is using host card emulation to make its mobile technology more widely available, in a move to improve performance among young people.

The bank-led clearXchange is changing its brand to reasonate more with consumers