Zelle is a bank-backed mobile P2P payment app launched in 2017. However, it is only available in the U.S. It acts as a digital wallet and allows customers to send and receive money through a linked bank account, Venmo balance, or credit card. That's how Venmo's service is owned by PayPal. Braintree bought Venmo in 2012 and PayPal acquired Braintree in 2013. Venmo was founded in 2009 by Andrew Kortina and Iqram Magdon-Ismail as a means to transfer money quickly to one another. Venmo, a mobile payment app is a subsidiary of PayPal. was launched to facilitate cross-border transactions. PayPal launched its mobile peer-to-peer payment platform called in September 2015 which enables users to create a personalized PayPal link that can be sent via text, email, or social media platforms to peers for fast transactions. It acquired a digital money transfer company, Xoom Corporation in 2015, gaining access to Xoom's millions of active users. PayPal, an online payment service was established way back in 1998 as "Confinity" which was later acquired by eBay in 2002. Let's see in what ways PayPal, Venmo, and Zelle differ from each other PayPal, Venmo, Square Cash, and Zelle are some of the top peer-to-peer payment apps.Īlthough P2P payment apps can have similarities, they do differ in the services they offer, the fee structures, transfer limits, or the access of money. In the United States alone, there are over 20 mobile payment apps. The surge in users will also be boosted by the coronavirus pandemic as it provides easy money transfer services without any physical contact. Peer-to-peer payment (P2P) is expected to reach 126 million users in 2020. Instead, an email or phone number linked with the bank account is only needed to make the payments. After the initial set-up, there is no need for account details to transfer money. There are a variety of P2P payment apps that can be downloaded and installed on mobile. The transactions can happen via mobile devices or computers with an internet connection. The P2P payment services essentially allow customers to link their bank accounts to a P2P payment application to send and receive money electronically between two users, even if they use different banks. The peer-to-peer (P2P) payment market is expected to reach $396.48 billion in 2020 according to eMarketer's latest estimates.
0 kommentar(er)
