P-to-P payments

The biggest surprise for many who awaited the Consumer Financial Protection Bureau’s final rule for prepaid cards was discovering that its reach extends to some of the payments industry’s highest-profile tech firms, such as PayPal Inc.’s Venmo, Square Inc.’s Square Cash and Dwolla.

Citi will join Early Warning's clearXchange, giving the bank-operated digital transfer network a boost as it takes on apps like PayPal’s Venmo.

San Antonio-based Frost Bank this week became the 11th financial institution to join Early Warning’s real-time payments network, which will continue to operate under the clearXchange brand at least through the end of this year.

Millennials hate banks so much, they’d rather go to the dentist than listen to what banks have to say. And digital payment alternatives are taking advantage.

The latest iOS update will soon enable many consumers to initiate payments via voice command, but a German bank is one of the first to take its service live.

NEW ORLEANS -- What do millennials really want from their financial providers? Bankers with average customer ages in baby boomer territory puzzle over this question every day.

Netherlands-based ING is the latest bank to extend person-to-person (P-to-P) payments services to bank customers using popular social media platforms.

TerraPay, a mobile-first international remittance company based in Amsterdam, has acquired Pay2Global, a U.K.-based money transfer service.

ClearXchange has access to a majority of the market's online banking accounts as it takes on Venmo, but there's one thing it may not have.

Over the last few weeks, the expansion of digital person-to-person payment platforms and the resulting growth in consumer adoption has garnered a lot of attention.

While Early Warning is continuing to recruit banks to participate in its risk management engine and clearXchange P-to-P network, it's also working with nonbanks to quickly expand its footprint.

The mega-banks behind Early Warning's clearXchange network provided a huge base to push the speedy processing necessary for digital payments—but even the biggest banks don't blanket the country as well as Visa and Mastercard.

There may be bumps along the way, but PayPal, Mastercard and Visa all share the same goal, according to Mastercard CEO Ajay Banga.

Seven months after disclosing a test enabling Venmo P-to-P users to buy goods and services in-app, the PayPal unit has rolled out the "Pay with Venmo" feature to all users and expanded the list of participating merchants.

To hear PayPal CEO Dan Schulman tell it, his company's agreement with Visa this week is a transformative and history-making deal. But in at least one way, PayPal must make sure that history does not repeat itself.

When those of us in the payments industry think about moving money, we think of the many points that distinguish money movement options – is it a transfer or a bill payment, will it utilize a card network or the ACH, will it be sent immediately or processed in a batch?

More than 46 million P-to-P transfers traveled over the rails of Early Warning's clearXchange during the first quarter of 2016 accounting for about $16 billion, according to the the bank-owned payments network. It’s the first time the organization has released numbers quantifying the service’s P-to-P payments volume.

Payments technology provider Kash Corp. has hired SmartFi founder Johnie Lee, a former senior Google employee who worked on Google Wallet and Android Pay Hands Free engineering.

U.S. Bank was unusual in making users pay for real time person-to-person payments on Early Warning's clearXchange, a practice it's ending as other banks start to offer free transactions on the same network.

Wells Fargo is joining other members of Early Warning's clearXchange network in providing real time person-to-person payments.