Credit unions might only need a re-evaluation of existing loan products to compete.
Internet-based or platform lenders are stepping up their efforts to capture consumer loans.
The new service allows individuals and organizations to send money without registering for a full Dwolla account.
In Europe, P2P payments services that include merchants have reduced cash and check use, but not card transactions.
If credit unions can make P2P free, in real time and through mobile channels, it could explode as a payment tool.
Court documents from May revealed the Department of Homeland Security seized nearly $3 million from a business account at the $2.4 billion Veridian Credit Union in Waterloo, Iowa, over what the DHS said was an unlicensed money transmitting business operated by the business member’s client.
Iowa-based payments innovator included in Bitcoin probe, Bloomberg says, while MIT fetes founder.
Homeland Security alleges Veridian Credit Union account holder Mt.Gox is unlicensed money transmitter.
PayPal tools added to big Utah Credit Union's online banking set.
Fiserv, FIS pushing to make person-to-person an instant affair, which may be the key to real adoption.