The biggest US banks have backed a new service that lets you pay friends faster than Venmo

The biggest US banks have backed a new service that lets you pay friends faster than Venmo

After six years, the big banks have finally debuted “Zelle,” their competitor to Venmo that works inside the apps of participating banks. Zelle is meant for casual person-to-person payments, like paying someone back for dinner or splitting a utility bill.[...]

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Android Pay now used for international P2P transfers, courtesy of WorldRemit

AndroidPay, Google’s wallet for Android devices, is getting a boost in its global profile and functionality today: WorldRemit, the $500 million remittance startup connected to around 120 million mobile money accounts globally, which lets residents in one country transfer money[...]

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Millennial And Boomer Expectations Meet On Mobile

Living up to consumer expectations is difficult work these days for many reasons, not the least of which is that consumers are a fairly heterogeneous group of people with widely varying expectations. Baby boomers who grew up in the age[...]

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US ACH transaction volume sees 1.3B year-to-year growth

New statistics from NACHA-The Electronic Payments Association show that ACH transaction volume in 2015 grew to more than 24 billion electronic payments, an increase of 1.3 billion payments (5.6 percent) over 2014 volume. This marks the second consecutive year in[...]

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Cashless society: decline in cash use continues across Europe, the USA and Australia

Money has taken on many forms over millennia; our relationship with currency often alters along with it. Lately, a key theme has been technological change to a cashless society: notes and coins, initially pushed off centre stage by debit and[...]

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Social network payments hit $3T in China

A new UN study reveals that Alipay and WeChat Pay enabled $2.9 trillion in Chinese digital payments in 2016, representing a twentyfold increase in the past four years. The data shows that digital payments, using existing platforms and networks, provide[...]

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PayPal Powers Payments Ecosystem For SMBs

May 1 – the start of Small Business Week – also marked the day that PayPal launched a solution intended to streamline access to PayPal’s ecosystem of services and solutions for SMBs focused on growing their businesses. PayPal also used[...]

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NEW REPORT: How Push Payments Pull Payments Innovation Forward

With all the new payment innovations on the scene, it seems like the paper check is the party guest that failed to RSVP and refuses to leave. Payments can be issued on a recurring or a non-recurring basis for a[...]

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Mastercard’s New President Of Operations And Technology On Payment’s ‘Third Wave’

Mastercard today announced the appointment of CIO Ed McLaughlin to president, Operations and Technology. In an interview with PYMNTS’ Karen Webster, McLaughlin spoke to the developments and challenges in the latest payments industry shift toward device-based and contextual commerce, the[...]

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Competition increases for China’s $5.5 trillion mobile payment market

China’s mobile payment market is more than 50 times bigger than that its US counterpart sitting at $5.5tn and is now being shaken up by its underdog Tencent, which is snatching market share from rival Alibaba. Alipay, which Alibaba launched in 2004[...]

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