Small Business, Big Debit Opportunity: The FI Counter to P2P Fintechs

Small businesses are leveraging peer-to-peer apps for their business needs. PayPal and Cash App are excelling in this space through convenience and ease of use. Acquiring banks should be responding to this growing competition, or they risk losing revenue streams and future financial relationships. 

The main solution recommended by Javelin is offering and marketing services like Zelle for Small Business and enabling tap-to-pay functionality for business customers. These solutions provide small businesses with bank-integrated payments experiences and keep their payments within the financial institution’s ecosystem rather than third parties.

Key questions discussed in this Debit Payments report: 

• What P2P apps are most popular and how are consumers and small businesses using them?
• What are the major challenges facing financial institutions from P2P apps?
• What are the ways financial institutions can attract small business owners? 

Companies Mentioned: 

Apiture, Block, Cash App, Early Warning Services, Elavon, FIS, Fiserv, Jack Henry, Mastercard, Moov, PayPal, Square, The Clearing House, U.S. Bank, Venmo, Visa, Zelle