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To Zelle or Not to Zelle, That is the P2P Question Facing Credit Unions

How do credit unions differentiate P2P and its mobile offering if this key feature is so commoditized?

How far into P2P should credit unions go?

A side note to the reported vulnerability of Zelle, which enables real-time consumer payments, may be that the jury is still out on the peer-to-peer network with many financial institutions.

In 2017, 63.5 million U.S. users accessed mobile P2P payment apps on the way to a projected 113.5 million by 2021, according to Statista. In its January 2018 Monkey Insights. Austin, Texas-based digital banking provider Malauzai Software, said in 2017 P2P payments increased by 30%. “The big news around P2P is growth continues, but not as robust as last year,” chief product officer Robb Gaynor of Malauzai said. He added more than 11% of credit unions and banks now have P2P available.

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Roy Urrico

Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).

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