Bank of America reports $4bn in P2P payments

A big bank Is catching up to PayPal and Square — Barron’s — “Bank of America released its third quarter earnings on Friday morning and executives spoke confidently about Zelle, the payments platform used by several big banks. The total number of peer-to-peer payments made over the Zelle network by Bank of America customers jumped 68% on a year-over-year basis to 13.6m, and the total payment volume jumped 40% to US$4bn, the bank said. Earlier this year, Bank of America integrated Zelle into its mobile app.”



Jack Ma’s Ant Financial nearly doubles profits amid deal push

Jack Ma’s Ant Financial nearly doubles profits amid deal push — Bloomberg — “The company controlled by Alibaba’s billionaire co-founder Jack Ma racked up an 86% jump in pretax profit to 5.56 billion yuan ($814 million) in the year ended March, according to Bloomberg’s calculations… Since starting as Alipay in 2004, Ant Financial has grown into an online giant that controls more than half of China’s $5.5 trillion mobile payments market.”






PayPal reports 50% rise in mobile payments

A third of all transactions processed by PayPal are now conducted using a mobile device, PayPal COO Bill Ready has revealed, with the company processing more than US$31bn in mobile payments in the fourth quarter of 2016 — up 53% from the same period in 2015... More














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