News about P2P.
April 28th, 2017
Apple is working to launch a peer-to-peer (P2P) payment service later this year, according to Recode. “The company has recently held discussions with payments industry partners about introducing its own Venmo competitor,” the publication reports. Apple is also in talks with Visa about creating its own prepaid cards that would tie to the P2P service, Recode says. “Users could then add the debit card, which may only come in a digital form, to their Apple Pay digital wallet to use for tap-and-pay purchases at brick-and-mortar stores.”
April 25th, 2017
Customers of Singapore’s DBS Bank and OCBC Bank will soon be able to make in-store mobile payments by scanning a QR code at any point-of-sale terminal belonging to the country’s electronic payments network Nets.
April 21st, 2017
Mobile network operator Orange is to launch a mobile-only bank in France in July this year that will offer customers NFC mobile payments, P2P mobile transfers using SMS and an artificial intelligence-based virtual assistant that will eventually be able to complete tasks including making transfers and putting funds in savings.
April 20th, 2017
Six Dutch banks including ABN Amro, ASN Bank, ING, Rabobank, Regiobank and SNS have announced their intention to launch Payconiq in the Netherlands this summer. Payconiq is a common mobile payment platform that lets customers make P2P payments as well as pay in-store and online and has been successfully piloted and launched in Belgium with support from ING, KBC and Belfius banks.
April 19th, 2017
Banks offering Early Warning’s Zelle P2P payments platform processed more than 170m P2P payments in 2016, totalling US$55bn in aggregate transaction value. The network now includes 20 banks and credit unions and is “poised to reach an estimated 85m consumers in the US through the mobile banking apps of its participating institutions,” Early Warning says. The Zelle brand was unveiled in October last year and has been built on the foundation of the ClearXChange network.
April 12th, 2017
Facebook Messenger users across the US can now send and receive money between groups of people in a Messenger conversation by selecting the payments icon and then choosing who to send or request money from using a list of conversation participants.
April 10th, 2017
Facebook Messenger users across the US are now being prompted to send and request money transfers by an artificial intelligence-based feature that detects when a payment is being discussed in a conversation on the social media platform and responds with a suggestion designed to help the user complete that payment.
April 5th, 2017
Messaging app WhatsApp is exploring India’s Unified Payments Interface (UPI) platform “among other payment modes” for launching a P2P mobile payment service in the country. “For WhatsApp, which has 200m users in India, integrating UPI instead of building its own wallet would likely be a better option given the stricter guidelines for wallets put out by the Reserve Bank of India,” Economic Times reports.
March 22nd, 2017
Customers of Australian bank Westpac will soon be able to use an innovative replacement for the default keyboard found in social messaging apps such as Facebook Messenger and WhatsApp to make P2P money transfers to friends, family and businesses as well as send cardless cash codes to recipients for ATM withdrawals.
March 22nd, 2017
Samsung Pay has launched in India with support from Visa, Mastercard, American Express, Axis Bank, HDFC Bank, ICICI Bank, SBI Cards and Standard Chartered Bank, with Citibank India support expected “shortly”. The service has also integrated India’s leading mobile wallet Paytm and comes with support for peer-to-peer money transfers through the Indian government’s Unified Payments Interface platform.
March 7th, 2017
The Singapore government is to add open APIs, biometrics and encryption to its digital identity system, as well as launch a mobile P2P service to allow money transfers using mobile phone numbers. “Open APIs would allow others, including the private sector, to incorporate the digital identity features into their services,” GovInsider reports. “This means that the ID could potentially be used to access internet banking and other services.”
February 23rd, 2017
Nineteen US banks have launched Zelle, the mobile P2P money transfer service unveiled last October to compete with the likes of Venmo, allowing users to send money directly to each other’s bank accounts within minutes. Bank of America says it is the first to incorporate Zelle into its own app, with a standalone Zelle app available later this year for anyone with a debit card.
February 22nd, 2017
February 17th, 2017
Kenya’s new digital payments platform PesaLink, that will enable consumers to make real-time mobile person-to-person (P2P) payments from US$0.10 up to US$9,650 at any time without having to go through intermediaries, is “expected to cut…
February 9th, 2017
The total volume of mobile payment transactions in the US will reach US$282.9bn by 2021, Forrester estimates. “Mobile in-person payment will grow the fastest, increasing to 6.8 times its size between 2015 and 2021,” the research firm says. Mobile remote payments, including in-app, will grow 2.7 times its current size by 2021, while mobile P2P payments “will continue to have the smallest market share despite quadrupling during the next five years”.
January 30th, 2017
Mobile payments accounted for a third of PayPal’s overall payment volume during the fourth quarter of 2016, the company’s CEO Dan Schulman has revealed, with the total volume of mobile payments increasing by 55% over the course of last year.
January 26th, 2017
Customers of BMO Harris Bank in the US can now send and receive money through People Pay, a mobile P2P payments service added to its mobile banking app. “Recipients are not required to bank with BMO Harris Bank, and they are notified via email once the payment has been sent so they can quickly claim the money,” the bank says.
January 23rd, 2017
European payment infrastructure provider EBA Clearing has begun testing an instant payment platform unveiled earlier this month by the European Central Bank, that will allow European consumers to make cross-border mobile P2P payments. Some 28 funding institutions gathered in Milan to mark the start of the testing phase, with an official launch scheduled to take place in November 2017. EBA Clearing is running the test environment in collaboration with payment processor SIA.
January 18th, 2017
Hong Kong ATM network Jetco has partnered with seven banks in Macau to offer Jetco Pay P2P, the mobile phone number-based transfer service that launched with 12 banks in January 2016. Participating banks include Banco Comercial De Macau, Banco Nacional Ultramarino, Tai Fung Bank, Bank of China Macau Branch, Industrial and Commercial Bank of China (Macau), Luso International Banking Limited and OCBC Wing Hang Bank. The service will roll out in the second half of 2017.
January 11th, 2017
Consumers will be able to make peer-to-peer (P2P) mobile payments across Europe using only the payee’s mobile phone number which will act as proxy for their international bank account number (IBAN) by the end of…