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    Peer-to-peer payments

    News about Peer-to-peer payments.

    Singapore banks add in-store QR code payments to mobile apps

    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. More

    Six Dutch banks to take Belgium’s Payconiq to the Netherlands

    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. More

    Zelle processed 170m P2P payments in 2016

    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.

    Facebook Messenger adds group payments in the US

    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. More

    Facebook Messenger adds payment prompts using artificial intelligence

    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. More

    WhatsApp to launch UPI-based payments in India?

    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.

    Westpac launches payments keyboard for chat apps

    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. More

    Samsung Pay goes live across India with support for Paytm and UPI money transfers

    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. More

    US banks launch money-transfer app

    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.

    UK bank tests voice commands with Google Home

    February 22nd, 2017

    Starling Bank, a UK mobile-only bank, is testing an integration of its API with Google Home, the voice-activated speaker powered by Google Assistant. A video shows a user using voice commands to ask for her balance and spending history, and make a person-to-person payment.

    Kenyan banks roll out PesaLink real-time direct P2P mobile payments

    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… More

    US mobile payment transactions to reach $282bn by 2021

    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”.

    PayPal’s mobile payments volume sees 55% increase in 2016

    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. More

    BMO Harris Bank adds P2P mobile payments

    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.

    Test for European Central Bank mobile P2P platform

    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.

    HSBC to launch Hong Kong P2P mobile payments app

    January 19th, 2017

    HSBC is to launch a P2P mobile payments app in Hong Kong early this year that will allow customers of any bank to transfer money using a recipient’s mobile phone number. The bank is issuing invitations to register for an Early Bird Sign Up promotion in exchange for HK$20 (US$2.57) credit and up to HK$100 (US$12.89) credit if customers refer a friend. HSBC supports a similar service in the UK called Paym which launched in April 2014.

    European Central Bank calls for Europe-wide P2P mobile payments by end 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… More

    Apple patent reveals plans to add Siri to iMessage for P2P payments

    November 21st, 2016

    Apple is investigating the possibility of adding the functionality of its Siri virtual assistant to its iMessage service that would enable iPhone users to perform P2P payment transactions, a recent patent published by the US… More

    Finland to get multi-bank P2P mobile payments platform

    November 16th, 2016

    Finnish consumers will be able to make P2P mobile payments using a mobile phone number from March 2017 through Siirto, a new platform unveiled by ATM operator Automatia — a company owned by three of… More

    Seqr launches P2P payments in 14 European countries

    November 15th, 2016

    Swedish mobile payments specialist SeamlessSeqr mobile payment platform has launched a P2P money transfer service that enables users to instantly transfer money to each other “regardless of where they are in the world”, the company says. The service is being rolled out to 14 countries across Europe: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal, Spain, Sweden and the UK.

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