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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