News about Peer-to-peer payments.
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 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.
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…
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…
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…
November 15th, 2016
Swedish mobile payments specialist Seamless’ Seqr 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.
November 11th, 2016
Citi has launched a global API Developer Hub to give developers access to APIs across eight usage categories including account management, peer-to-peer payments, money transfer to institutions, Citi rewards, investment purchases and account authorisation. “The release of Citi APIs marks the evolution of Citi’s technology to open architecture, which will facilitate collaboration and partnerships with fintech companies and consumer brands to benefit customers,” Citi says. Additional categories will be added over time.
November 10th, 2016
The value of mobile payment transactions made in the US is expected to rise 183.3% this year to US$27.67bn, more than doubling next year and reaching US$314.13bn by the year 2020, research released by eMarketer…
November 3rd, 2016
Google has unveiled a new Google Wallet web app that will allow users to send money to friends and family through a web browser. The recipient doesn’t need the Google Wallet app to receive the…
October 31st, 2016
More than £300m (US$364m) has now been processed through peer-to-peer mobile payments platform Paym since its launch in April 2014, accounting for more than 5.8m transactions. Some 3.5m mobile numbers are currently registered with the…
October 21st, 2016
French bank BNP Paribas and supermarket giant Carrefour are to merge their Wa! and Fivory electronic wallets to create a “unified, universal mobile payment solution”, allowing customers to make payments, receive loyalty rewards and make…
October 17th, 2016
Nordea Bank Denmark is ending its support for Swipp, the mobile payment joint venture it formed alongside other Danish banks in 2014, by deciding to “join a partnership” to develop Danske Bank’s MobilePay platform. With the…
July 26th, 2016
Mobile network operator Telefónica Deutschland has launched a mobile-only bank in partnership with Fidor Bank in Germany. The service will allow peer-to-peer (P2P) transactions to be made using mobile phone numbers and will come with a Mastercard debit card for in-store and ATM transactions.
July 12th, 2016
Customers of Capital One in the US can now make real-time P2P transactions through Early Warning’s bank-led digital payments network ClearXChange. The bank joins Bank of America, US Bank, JP Morgan Chase and Wells Fargo in supporting the service which was made available to all member financial institutions in June 2015.
July 11th, 2016
ING and Belgian bank KBC are to launch a mobile payment and loyalty platform in Belgium that will combine ING’s Payconiq mobile payment app with loyalty platforms Qustomer and CityLife in a single service.
July 6th, 2016
Banks in Singapore are working on a service that would let consumers make payments using their Facebook ID or Twitter username. “The system will allow electronic transfers between account holders who have registered their social media identities with their banks,” The Financial Times reports. “The service will be based on Singapore’s existing internal fund transfer system, known as FAST, which brings together 20 banks to allow near-instant fund transfers.” A pilot is due to take place in early 2017.
July 1st, 2016
More than 350,000 Italians have now registered to use Jiffy, the P2P payment service launched by payment processor SIA in October 2014. “The average value of an individual transaction is around €52 (US$58), while transfers under €25 represent 44% of the total,” SIA says. “23 bank groups have joined the SIA P2P payments service since it was launched.” The service added support for in-store payments via QR code last month.
June 28th, 2016
Customers of Wells Fargo in the US will soon be able to make real-time P2P transactions through Early Warning’s bank-led digital payments network ClearXChange. “Beginning August 1, Wells Fargo’s service will allow its customers to send funds in real-time at no cost to any customer of a bank that participates in the real-time service,” the bank says. ClearXChange was made available to all member financial institutions in June 2015. JPMorgan Chase also signed up to the service earlier this month.
June 23rd, 2016
Italian consumers are now piloting in-store mobile payments using Jiffy, the person-to-person (P2P) payment service launched by payment processor SIA in October 2014. The service makes use of QR codes at the point of sale.
June 22nd, 2016
Two out of five US consumers (40%) have or would use in-store mobile payments, up from 34% in 2015, research from Bank of America reveals. “The majority (57%) of consumers would consider or are already using a P2P money transfer service from their bank,” the bank adds. “Nearly two in three (62%) respondents use mobile or online as their preferred method of banking. More than half (54%) of consumers also say they are active users of a mobile banking app, up from 48% last year.”