Payments experts contend that linking Popmoney and clearXchange would provide a powerful incentive for consumers to adopt P2P applications, as they could move P2P payments through a large percentage of banks.
“Any way for the banks to make the transmittal of money between individuals easier is a huge benefit to them and puts them in position to pull some of that business away from Western Union,” says Todd Ablowitz, president of Double Diamond Group LLC, a Denver-based consulting firm. “The big questions for Fiserv are what will it cost banks to offer their P2P application and how will consumers respond if that cost is passed on to them.”
Digital Transactions, September 18, 2012
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