Apple Pay Cash gets top rating for P2P payments privacy and security

Why Apple Pay is the highest-rated mobile P2P payment service — Consumer Reports — “In our first-ever test-based ratings of P2P mobile services, CR rated Apple Pay the highest overall, with excellent or very good marks in the key consumer-protection measures of payment authentication and data privacy. Apple’s overall rating was significantly higher than for the other services we tested: Venmo, Square’s Cash App, Facebook P2P Payments in Messenger, and Zelle.”


Wells Fargo makes it easier for customers to access popular mobile payments services

Wells Fargo reimagines mobile experience with ‘Pay with Wells Fargo’ — Wells Fargo — “Today Wells Fargo & Company announced Pay with Wells Fargo, which will bring to the app’s home screen an option for customers to conveniently select their most commonly used payment features like Zelle, mobile wallets, card-free ATM access code and transfers, even before signing into the app… Longer-term features of Pay with Wells Fargo will be customized based on customers’ personal usage patterns. Customers also will have the ability to customize the highlighted features themselves.”



Bank of America reports 84% rise in P2P payment transactions

Zelle takes cashless payments to new heights — Bank of America — “Bank of America saw total Zelle transactions for 2017 hit nearly 68 million, an 84% growth rate from the previous year. In Q4 alone, Bank of America processed over 23 million transactions, totaling nearly US$7bn, up 91% from the prior year… Currently, Bank of America has nearly three million active Zelle users, and continues to add thousands of new users every day.”


Wells Fargo to offer mobile-first bank accounts

Wells Fargo announces a mobile-first banking experience to encourage financial health — Wells Fargo — “Combining personal finance management tools with Wells Fargo banking, the Greenhouse experience will help consumers pay bills on time, spend confidently, and start to build a savings cushion — all while providing personalized insights through artificial intelligence to help them stay on track. Greenhouse, a standalone mobile app, will be available in a limited, national pilot in the first quarter of 2018 and will launch for Apple iPhone users during the first half of 2018.”


Zelle reports 65,000 new customers a day for its bank-led P2P payments service

Zelle returns to Money 20/20 with a surge in network payments — Zelle — “In Q3 2017 (July – Sept) Zelle payments surged, with an average of 65,000 consumers enrolling daily, resulting in the network processing more than 60m real-time person-to-person (P2P) payments, valued at US$17.5bn… This success comes as the number of financial institutions in the Zelle Network grows to more than 50.”


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.”



Zelle now live! in mobile banking apps today, a new way to pay

Zelle now live! in mobile banking apps today, a new way to pay — Zelle — “Beginning this month, more than 86-million U.S. mobile banking consumers will be able to send and receive money through Zelle… Beginning this week, and continuing on a rolling basis over the next 12 months, Zelle will become available in the mobile banking apps of more than 30 participating financial institutions.”



US banks launch money-transfer app

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... More







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