• Also in this article:
• P2P payment usage expected to grow dramatically
• Data on online banking users, bill pay users, and P2P payment users at First General Credit Union

Quotable
“A 2% penetration (of online/mobile customers) is along the lines of what we expect this year nationwide. Longer-term, we expect usage to grow at least 10-fold from that level.”

• Also in this article:
• Number of financial institutions offering P2P payments is growing
• Paypal has increased the popularity of P2P payments by integrating their P2P platform into existing online bill payment systems
• Plans to help financial institutions increase P2P usage

Quotable
“We’re seeing a massive number of financial institutions signing up for person-to-person payments. The trajectory is going to continue.”

Also in this article:
• Small businesses are looking for added control
• How business bill pay sets River Valley Credit Union apart

Quotable
“Small businesses are where the action is going to be.”

Also in this article:
• The growth of expedited payments
• Integrating peer-to-peer payment into online bill pay
• Demand for live chat customer service

Quotable
“Banks and vendors are getting better at making the online bill payment process more seamless, which makes it easier to sign up for services rather than go elsewhere.”