US Bank Now Offers Free P2P Payments

Note from the Publisher:  It’s sometimes hard to figure out where to classify our stories.  In this case, this belongs in both P2P and banking, and that is a telling tale.  Banks have been less willing to offer peer-to-peer payments (like Paypal), but many are now adopting this technology, and US Bank just went into it in a big way.  They provide this offering through the ClearxChange network.  If you’d like to brush up on this company, their site is Clearexchange.com.

“Consumers are showing an increased interest in real-time payments. At the same time, they also value the peer-to-peer aspect of finance, which is often overlooked by banks. U.S. Bank has proven to be a different creature in this regard, as they focus on instant p2p payments. This is also part of the reason why they use the clearXChange network.Banks are acknowledging the need to make payments a lot faster, and preferably cheaper as well. U.S. Bank, one of the biggest financial institutions in the United States, removed the fees on peer-to-peer payments. This is quite an interesting turn of events, and it goes to show the value of the clearXChange network.”

Read Full Article at Fintechist