Are P2P Payments Slowly Overtaking the Financial Services World?

By Preston Packer |



In a bid to further their already extensive reach to young users, Venmo announced last week that they will be offering a debit card to their users. PayPal-owned Venmo is one of the most popular peer-to-peer payment service apps, and as the P2P market heats up, this is clearly an effort to take the lead that others will likely follow. Feeling pressure from Zelle, a network comprised of a consortium of some of the largest banks in the United States, who launched an app allowing their customers to send money to each other instantly via smartphones last year. Venmo is taking advantage of their speed to market to gain more users, but what does this mean to your credit union?

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