Note from the Publisher: We’re seeing more instances of banks, credit cards and online payment platforms entering into the P2P space, or further entrenching into it. MasterCard, has made a signficiant upgrade to its P2P platform, in order to better compete and offer more instantaneous fund transfers
“P2P has shifted over the last several years from being a nice-to-have to a must-have solution for banks.
With the adoption of mobile and online banking, and the proliferation of non-bank solutions providers such as PayPal, Venmo and Square Cash, consumers have come to expect that the digital transfer of funds from one person to another is as easy – and instantaneous – as handing someone a $20 bill.
Today, Mastercard announced that its Mastercard Send platform will power the Early Warning clearXchange network in an effort to do that for clearXchange customers.”