![](https://images.cutimes.com/cdn-cgi/image/format=auto,fit=contain/https:https://images.cutimes.com/contrib/content/uploads/sites/413/2018/04/p2p-zelle-e1524855576937.jpg)
A side note to the reported vulnerability of Zelle, which enablesreal-time consumer payments, may be that the jury is still out onthe peer-to-peer network with many financial institutions.
In 2017, 63.5 million U.S. users accessed mobile P2P paymentapps on the way to a projected 113.5 million by 2021, according toStatista. In its January 2018 Monkey Insights. Austin, Texas-baseddigital banking provider Malauzai Software, said in 2017 P2Ppayments increased by 30%. “The big news around P2P is growthcontinues, but not as robust as last year,” chief product officerRobb Gaynor of Malauzai said. He added more than 11% of creditunions and banks now have P2P available.
P2P payments are not quite taking consumers by storm. “We doknow P2P can work. Venmo proves it and Venmo (PayPal) does itwithout a bank in the middle,” Gaynor advised. Venmo revenue forthe first quarter 2018 was $3.69 billion; with $132 billion intotal payment volume, and $49 billion coming from mobiletransactions.
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