Person-to-person payments are a core area of interest beyond just the banking industry. The news that PayPal is bringing Venmo into e-commerce should be serious concern for many companies that wanted a piece of the P-to-P pie. But Venmo's success does not necessitate others' failure.
With Apple’s WWDC, Zelle, PayPal’s Venmo and Square Cash, competition in the consumer payments space is about to kick into high gear, writes Josh Hawkins, vice president of marketing for the Boston-based digital payments company Circle.
Many bank-driven responses to fintech startups are "force fitting" traditional services, and don't fully meet new consumers' demands for social interaction, writes Ted Bissell, global director for digital consulting at Axis Corporate.
After Equifax disclosed a devastating data breach, much of the attention focused on whether the company did everything it could in response. But the scary truth may be that this is the sort of incident that goes beyond a single company's ability to fix.
Alipay and WeChat Pay will force traditional payment networks to up their game, particularly in in-play emerging markets. Whether they can become relevant at scale for consumers outside China remains to be seen, writes Eric Grover, a principal at Intrepid Ventures.