Person-to-Person Payments

First Tech Federal Credit Union has activated the Zelle person-to-person payment service in its mobile-banking app, which has 110,000 users. Puerto Rico-based payment processor Evertec Inc. said it will donate $1 million for relief efforts and that it continues to process ATM and point-of-sale transactions on the island, which was devastated by Hurricane Maria. …

Bank-owned Early Warning Services LLC said its new Zelle person-to-person payment service processed 100 million transactions in 2017’s first half for payments totaling $33.6 billion. More than 50,000 consumers are enrolling daily in a network that could connect 86 million consumers through the mobile-banking apps of participating banks and credit unions, Early Warning …

Now that financial institutions have launched a digital peer-to-peer payment service called Zelle to battle popular nonbank services like Venmo, the rival platforms are likely to divide up a rapidly growing market but will also face pressure to find ways to charge for the service. While overall U.S. P2P dollar …

Two recent studies have produced some interesting insights about person-to-person payments. One spells out the similarities among users of prepaid cards and P2P services. The other shows just how strong PayPal Holdings Inc.’s hold in money transfers and P2P and other payments is. The findings about prepaid and P2P come …

PayPal Holdings Inc. has changed in ways large and small since Dan Schulman took over as chief executive two years ago, but perhaps its biggest change is its willingness to embrace collaboration with financial institutions, payment networks, and others once seen as keen rivals. At least some vindication of that …

The forecast for person-to-person mobile payments is a heady one. Expect double-digit growth through 2021, says research firm eMarketer Inc. As more consumers adopt the growing number of P2P payments services, the value of their P2P mobile transactions will increase to $244.03 billion, up 103% from the $120.38 predicted for …

By John Stewart@DTPaymentNews PayPal Holdings Inc. on Tuesday cranked up the heat on a person-to-person payments market that’s already close to full boil. In a blog post on PayPal’s site, PayPal chief operating officer Bill Ready announced the company has started testing instant transfers from users’ PayPal wallets to their …

By Peter Lucas@DTPaymentNews If banks are to gain the upper hand in the hotly contested person-to-person payments market, the Zelle network, which launched earlier this week, must make good on its promise of real-time payments while allowing consumers to complete P2P payments in the most intuitive way possible, payments experts …

• The Zelle person-to-person payments network announced its service will go live in the mobile-banking apps of more than 30 financial institutions beginning this week and continuing over the next 12 months. The coverage will include more than 86 million mobile-banking consumers, Zelle said, adding that more than 51 million transactions totaling more …

Payments observers have expected Apple Inc. to add person-to-person payments to its Apple Pay mobile-payments service for almost as long as the mobile wallet has been available, and on Monday, the computing giant obliged. Without adding much detail, Apple announced that users of its iMessage feature will be able to …