Zelle P2P Payment App Reaches Consumers September 12
Zelle today said its mobile peer-to-peer payment application will reach the Google Play Store and iTunes App Store on Tuesday, September 12. The service has been in testing since June. Zelle is supported by more than 30 of the nation's largest banks for sending funds from one person to another. It competes with established P2P payment services Venmo and Square Cash. The difference is speed. These older services typically require a day or two for funds to actually transfer between accounts. Zelle claims it can move cash in mere minutes using only the recipient's email address or mobile phone number, allowing for near instant withdrawals. Zelle's service has already been added to mobile banking apps from the likes of Bank of America, Capital One, Citi, Citizens Bank, Fifth Third Bank, First National Bank, JP Morgan Chase, KeyBank, M&T, PNC Bank, TD Bank, U.S. Bank, Wells Fargo, and more than a dozen others. This means users of these banks who send cash to friends via their mobile banking app are likely already using Zelle's service, which is running in the background. What's different here is that Zelle is rolling out a separate app under its own brand to stand apart from the banks it works with. The service can be tied to bank accounts and/or debit cards, but not credit cards. It is strictly meant to send real money from one person to another. Zelle was created by early warning services.
Google Launching Android Pay Today
Google said it is making Android Pay, its reborn mobile payment service, available to Android handsets beginning today. The app will be pushed to small batches of users over the next week, according to Google.
Several Banks Add Android Pay to Their Own Apps
Google has partnered with a small number of financial institutions in order to ease the process of signing up for Android Pay. Several banks, including Bank of America, Bank of New Zealand, Discover, mBank, and USAA, now let customers add debit/credit cards directly to Android Pay from within the mobile banking app.
Google Unfolds A Brand New Wallet App for Android
Google today released a fully redesigned Google Wallet application for Android devices. Google Wallet is not an app for making mobile payments at retail.
Zelle Promises Quick P2P Payments Via Mobile Banking Apps
Many of today's popular mobile banking apps will soon support a rapid person-to-person (P2P) payment feature through a new service called Zelle. Zelle, developed by Early Warning Systems, is supported by more than 30 of the nation's largest banks for sending funds from one person to another.
Mastercard Adds Retail Mobile Payments to Bank Apps
Android owners will soon be able to use their own mobile banking app — rather than Android Pay or Samsung Pay — to make tap-and-go payments in stores. Mastercard has expanded its Masterpass program to mobile devices so consumers can make contactless payments at various retailers.