Before instant payments make it into the mainstream, three challenges loom large: getting FIs to offer those payment rails to their business clients, making companies aware that instant payments exist, and finally, getting small businesses to use those networks to make and receive payments. The experience of Zelle for Business highlights all of these challenges as we approach 2023, when this could become a reality.

Companies Mentioned:

Bank of America, Capital One, Chas,e PNC, Truist, U.S. Bank, Wells Fargo, Venmo Cash App