Seven banks, including Wells Fargo and Capital One, are launching a competitor to services like Apple Pay and PayPal later this year.
Peer-to-peer apps have become a lifeline for small businesses. But many formerly under-the-table cash transactions now leave a digital trail.
Digital payment methods may render notes and coins obsolete in the United Kingdom and turn it into a cashless economy.
The threshold used to be much higher.
Mostly, it's about marketing.
It can feel safer to send money with a mobile peer-to-peer app. Usage is expected to keep growing after the economy recovers.
The payment app's public transactions reveal consumer spending habits during COVID-19 restrictions.
Street performers try to attract tips by having payment app accounts. But cash is still king.
Venmo and Zelle look like they should be competitors. But the two payment apps serve very different audiences.
A look at the big banks' answer to Venmo.