Payments News

On The Web

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Lydia introduces credit lines

“French startup Lydia announced a partnership with Banque Casino today for small credit lines. Starting tomorrow, Lydia users in France will be able to borrow as much as €1,000 in just a few seconds. While Lydia started as a peer-to-peer money transferring app, fintech startups always end up offering credit at some point. It’s hard to make money without offering […]
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What’s Wrong With Your Venmo Account, and How to Fix It

“Few social-media experiences have made me cringe more than viewing my “friend” list on the peer-to-peer payment app Venmo for the first time. Seeing the names of people I’d been on dates with years ago was jarring. Seeing someone I’d blocked on Facebook was unsettling. Seeing names I didn’t recognize and couldn’t find in my contacts was […]
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Visa brandishes Shieldpay for safe P2P payments

“Visa has equipped itself with the sturdy Shieldpay for secure card payments across peer-to-peer (P2P) marketplaces and classified ad sites. According to London-based Shieldpay, its digital escrow solution mitigates the risk of fraud by verifying the identity of all parties, holding funds securely and only releasing funds when all sides agree they are happy.”
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Leutz: The Victims of Venmo

“Spending money in the digital era feels more like waving a magic wand, or playing a video game, than making monetary decisions. In this way, there is a growing feeling of numbness, or detachment, between the consumer and digital currency. When people can’t physically see money leaving their hands, they are at a higher risk […]
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PayPal’s Venmo had a break-out quarter with payments surging 80%

“The app has annual revenue of more than $200 million, Schulman said. But that’s not quite enough for Venmo to make money. Investors will have to wait until at least mid-2019 for Venmo to be in the black, the company’s chief financial officer said. “The next phase for us is to get Venmo to break even. […]
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The Confusing World of Venmo Etiquette

“Payment etiquette has always been shaped by two driving forces: the aversions to seeming cheap and to getting ripped off. The avoidance of both used to be as simple as giving someone cash the next time you saw them, or in giving the waiter multiple credit cards and dividing the bill. But in simplifying the […]
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Many Consumers Report P2P Funds Availability Takes a Day or More

“Answers from 693 consumers who had used a digital P2P account to receive money in the 12 months ending in 2017’s fourth quarter show that 53% of respondents said they were able to use funds within 30 minutes or less of reception. That includes some 11% of respondents who said they had their funds in less than […]

On The Wires

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Companies

Zelle® Ends 2018 with its Strongest Quarter on Record

“Zelle closed the year with its strongest quarter on record with $35-billion in payments on 135-million in transactions processed – an increase of 12% and 19% quarter-over-quarter, respectively. Year-over-year payment value (4Q 2017 to 4Q 2018) increased by 61%, while transaction volume increased by 81%. The results cap a successful 2018, with the number of participants in the Zelle […]