CSCU recently published "A Comprehensive Look at Person-to-Person (P2P) Payments" white paper.

In the brief, CSCU's Director of Payments Strategy, Lou Grilli believes that "There is a growing demand to eliminate the need to make a trip to the ATM and then carry and hand over sometimes large sums of cash. This void has been filled by many vendors who now offer solutions to family and friends who must share the cost of rent, utilities, food bills, gift purchases and vacation costs," he added.

Grilli explains that P2P solutions come in two different types: bank-centric, that is, provided by a credit union or bank, or more specifically by a vendor to the financial institution, and non-bank centric, where the P2P solution is not affiliated in any way with financial institutions. He then goes further to discuss other solutions, how payments are funded and how payment transfers are accomplished.