Payments News

On The Web

nbsp;

Domains

Bank of America Makes Zelle Payments More Private

“Bank of America is the first financial institution to roll out a Zelle widget, cutting the steps required to send or request funds through the peer-to-peer payments service on mobile devices. The move could give BofA an edge among consumers who primarily access banking and payments from their phones, though other Zelle banks are likely […]
nbsp; nbsp;

Domains

Money-transfer App Synch Payments Raises Additional €5m

“The four Irish banks seeking to set up a money-transfer app to rival Revolut have raised an additional €5 million to fund the venture. Documents filed on Friday with the Companies Registration Office show that AIB , Bank of Ireland , Permanent TSB and KBC Bank Ireland committed more capital to the new entity, Synch […]
nbsp;

Domains

WhatsApp Might Finally Bring Secure P2P Payments to the U.S.

“WhatsApp may be preparing to introduce its peer-to-peer payment system in the U.S., according to code found in the latest app beta. XDA-Developers found code in WhatsApp beta version 2.21.23.10 that points directly to Novi integration and payment transactions. This corroborates similar findings by WABetaInfo late last month, which also showed evidence of Novi integration […]
nbsp;

Domains

FinTech Startup Chipper Cash Launches Its Free App in SA

“Yesterday, Chipper, one of the fastest growing African fintech start-ups that facilitates free peer-to-peer (P2P) money transfers and instant cross-border payments in Africa, officially launched Chipper Cash to offer domestic P2P money transfers in South Africa. Chipper Cash will enable South Africans to enjoy free unlimited instant domestic money transfers, invest in cryptocurrencies, and buy […]
nbsp;

Domains

Zelle Didn’t Need Bells and Whistles to Deliver a Strong Q2—here’s Its Core Advantage

“Bank-operated peer-to-peer (P2P) payments network Zelle processed 436 million transactions worth $120 billion in Q2 . The number of transactions processed increased 58% year over year (YoY), and payment value rose 68% YoY. Compared with Q2 2019, Zelle’s transaction volume surged 155%, and its payment values exploded 172%—reflecting just how rapidly digital payments grew during the pandemic. The company also highlighted small businesses as a key growth […]
nbsp;

Domains

Venmo Curbs Visibility on Payments So Strangers Can’t See Them

“Venmo is ditching its global social feed, making it so users can no longer see payments between people they don’t know. The app, owned by PayPal Holdings Inc. , will continue to allow users to see transactions among their friends, according to a blog post Tuesday. The move comes after Venmo has seen its customer […]
nbsp;

Domains

Complaints Against Mobile Payment Apps Like Zelle, Venmo Surge 300% As Consumers Fall Victim to More Money Scams

“Complaints against some digital payment services and apps like Venmo , Cash App or Zelle are skyrocketing, according to a troubling new report.   Nonprofit U.S. Public Interest Research Group [PIRG] says top issues include scams, trouble using accounts and poor customer service. The group analyzed more than 9,200 complaints filed with the Consumer Financial […]
nbsp;

Domains

Can Facebook’s New Payment Method Compete With Venmo and Zelle?

“The rollout of Facebook’s QR code-based payment service turns its Messenger platform into an open payment network, but may struggle to pull users away from popular alternatives like Venmo and Zelle. Unlike previous iterations of Messenger payments, the new system does not require users to be connected on its social network. Instead, it creates a […]

On The Wires

nbsp;

Domains

Payveris’ New Real-Time Money Movement Solution Optimizes P2P Services to Meet Growing Consumer Demand

“Payveris, the fastest-growing money movement provider in fintech, announced today that its MoveMoney Platform now delivers a real-time P2P solution that rivals Zelle, Venmo, PayPal, and Cash App.  The new service enables financial institutions’ customers to instantly send money to anyone with a U.S. bank or credit union account using the recipient’s mobile phone number […]