article thumbnail

Venmo, Zelle Book Q2 Growth, Good Signs For P2P

PYMNTS

Venmo , the P2P service owned by PayPal , took in more than $14 billion in payments volume during the second quarter of 2018, a 78 percent year-over-year increase. Company officials also seemed pleased with their efforts to introduce more revenue-attracting services to Venmo — a positive sign for the spread of P2P payments as a whole.

Zelle 42
article thumbnail

What is an ACH Deposit and How Does It Work?

Stax

ACH payments are a convenient way for business owners, individuals, and employers to use intuitive automated banking throughout their daily lives. Most small business owners and employers are turning to ACH payments instead paper check payments because of the ease and instant access the ACH network provides.

ACH 88
article thumbnail

ACH vs. EFT Payments: What’s the Difference?

Payment Savvy

What Exactly is an ACH? Depending on your end goal, there are a few different types of ACH. They pretty much break down into ACH payments and ACH transfers, both encompassed within the ACH network. After joining something like Venmo, you will sync your cards (debit, usually) along with your bank account.

ACH 98
article thumbnail

Data Dive: Dust-Ups, Hiccups And POS Attacks Edition

PYMNTS

Venmo and PNC’s Spat Over Zelle . The most notable example, according to reports , are allegations from PNC Bank clients that they were unable to connect accounts to Venmo , the payment service owned by PayPal. We’ve made some security enhancements which may be causing difficulty when attempting to link your PNC acct with Venmo.

Venmo 52
article thumbnail

Solving for the Interoperability Challenge

Faster Payments Council

We have faster payments rails, including The Clearing House's RTP® Network, the ACH Network (Same Day ACH), Visa Direct, Mastercard Send, and soon, a brand-new rail in FedNow℠ We even have faster payments apps that leverage those rails, such as Zelle, ExcheQ, Venmo, and more making it possible for consumers to send and receive money faster (..)

article thumbnail

ACH Payment vs Wire Transfer Similarities and Differences: How to Choose Between ACH vs Wire

Stax

-sanctioned countries Security Features Highly secure with financial industry standards, encryption, and strict protocols Enhanced security with proof of identity required Best for Recurring bills, payroll, government transactions, B2B payments High-value transactions, urgent payments, international transfers What is ACH (Automated Clearing House)?

article thumbnail

What is an EFT Payment? Everything to Know About This Method of Payment

Stax

P2P payments, such as Venmo, PayPal and the Cash App, are popular among consumers. ACH payments Another commonly used EFT payment type includes transactions conducted through the ACH network. Now, they’re increasingly being used by businesses as well, facilitated by apps such as Venmo, PayPal, and the Cash App.