Since Zelle's earliest days as the clearXchange network, the banks behind the P-to-P platform have promised that it could have a role in the business world. U.S. Bank has begun the next chapter by offering Disbursements via Zelle.
Three of Australia’s largest banks—Wespac, Commonwealth Bank of Australia and the National Australia Bank—have joined forces for a mobile wallet joint venture called Beem, with person-to-person payments as the first use case.
Facebook Messenger now supports person-to-person payments and customer service for PayPal, expanding the funding choices for repaying friends and family and the channels available to PayPal users sending P-to-P payments.
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.