Digital Transactions Authoritative, insightful and timely information for payments professionals
The low cost and convenience of peer-to-peer payments may be ready to cannibalize a portion of the traditional wire-transfer market, according to a new report from Javelin Strategy & Research. The report also finds that mobile P2P is important to all consumers, not just Millennials, often considered the most likely …
Read More »The ACH Continues to Sizzle, Racking up Nearly 6% Growth in the Third Quarter
By John Stewart It operates so much in the background that many payments professionals may not have noticed, but the automated clearing house network is on a hot streak. The 41-year-old system notched a 5.9% year-over-year increase in transactions in the quarter ended Sept. 30, reaching a total of 4.83 …
Read More »NEWS ANALYSIS: Why Apple May Be Planning To Launch a P2P Payments Service
Is Apple Inc. laying the groundwork for an application that would let individuals pay each other electronically? Citing “people familiar with the matter,” The Wall Street Journal reported Thursday that the tech kingpin is doing just that, and has already started talking to a handful of major banks. If the …
Read More »Despite Rise of Online And Mobile Methods, Cash And Checks Rule in P2P Payments
When it comes to payments between individuals, cash and checks are still wildly popular, even among Millennials, despite years of penetration by online and mobile methods. Indeed, 71% of consumers made at least one person-to-person payment with cash last year, and 56% did so with a check, according to a …
Read More »As Real Time Hits Prime Time, Early Warning And Fiserv Target Bill Payments, Deposits
The Federal Reserve may be shepherding a nationwide effort to bring real-time payments to the United States, but that doesn’t mean payments companies are marking time while that process unfolds. The latest development is Tuesday’s announcement that bank processor Fiserv Inc. will work with risk manager Early Warning Services LLC …
Read More »ClearXchange Gaining Security Elements Following Purchase by Early Warning
ClearXchange, a bank-owned person-to-person payments company that launched a real-time payments service in June, says its merger with Early Warning Services LLC will assuage concerns about security as more consumers and financial institutions use the service. Scottsdale, Ariz.-based Early Warning announced Monday it will buy San Francisco-based clearXchange for …
Read More »Hype Aside, Only 18% of Consumers Make a Mobile Payment at Least Once a Week
By Kevin Woodward None can escape the notoriety of mobile payments, but most consumers apparently are able to ignore the allure of using the smart phone-based technology. Only 18% of consumers use their mobile phones to make at least one payment a week, finds the 2015 North America Consumer Digital …
Read More »Eye on Mobile: How the Phone Is Steadily Taking Over Online And P2P Payments
Two reports released Thursday point up the accelerating rate at which consumers are turning to a mobile device rather than a PC to pay an online merchant or another person. The news comes as major tech players like Apple Inc., Google Inc., PayPal Holdings Inc., and Samsung Electronics Co. Ltd. …
Read More »How Google Wallet’s New P2P Focus Could Rescue the App From a Mediocre Legacy
The latest version of Google Wallet tended to get lost in all the hoopla surrounding Google Inc.’s launch two weeks ago of its Android Pay mobile-payments service, but while Wallet now has more modest ambitions, it could prove to be a potent force in the rapidly growing person-to-person payments business. …
Read More »The New PayPal.Me Makes P2P Payments Personal
PayPal Holdings Inc. is jumping into the free personalized person-to-person payments game with the launch of PayPal.Me. Announced Tuesday, PayPal.Me enables consumers to create personalized permanent links to share with others. When clicked, the links then present a Web page for senders to select the amount and the payment …
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