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BofA sees Zelle P2P cash gifts rise during COVID-19

Payments Source

Bank of America has seen a 33% increase in cash gifts flowing through the Zelle P2P app since the start of the pandemic, with total gifting volume reaching $1 billion.

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Mastercard: The Touchless And Caring Economies Are Boosting P2P Adoption

PYMNTS

Consumers seeking out low- to no-touch payments options amid public health concerns have combined with an uptick in charitable donations and tips to boost the comfort with peer-to-peer (P2P) payment platforms, Silvana Hernandez , senior vice president of digital payments at Mastercard , told PYMNTS. Staying Home And An Aversion To Cash.

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China’s P2P Lending Crackdown Leaves $115B In Losses

PYMNTS

China’s peer-to-peer (P2P) lending sector, once 6,000 businesses strong, has been reduced to fewer than three dozen as the government tightened regulations, leaving billions in loans unpaid. At one time, the P2P industry issued more than $150 billion of loans from 50 million investors. 14), per the report.

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Jack Henry debuts P2P payments tool

Payments Dive

The company is bringing the peer-to-peer payments tool to community and regional bank clients, after big banks made P2P popular through Zelle.

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OJK Plans to Raise P2P Funding Limit for Business Loans

Fintech News

Indonesia’s Financial Services Authority (OJK) plans to raise the maximum limit for peer-to-peer (P2P) funding above the current IDR 2 billion cap, specifically for productive funding used for business and economic activities, rather than consumptive funding for personal use.

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MoneyGram Teams With Visa Direct, Checkout.com To Advance P2P Payments

PYMNTS

"Our strategic partnerships have enabled MoneyGram to create the world's leading network, and this expansion is another milestone on our journey to lead the evolution of digital P2P payments," Alex Holmes, MoneyGram chairman and CEO, said in a press release on Friday (Jan. using Visa Direct.

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P2P payments tools lack transparency, consumer group says

Payments Dive

Zelle, the popular peer-to-peer payment service, and rivals should be more upfront with consumers about the ability to ask for money back, Consumer Reports says.