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End of the IOU: P2P Payments the New ‘Social Norm’

It appears Americans have run out of excuses for not paying their friends back in a timely manner, whether it’s for a $5 latte or $2,500 vacation. A new survey released today finds 36 percent of adults currently use a person-to-person payments service (P2P), with millennials leading the charge at nearly double that rate (62 percent).

Scheme, Technology

Six global banks join Swift DLT trials

Interbank messaging network Swift has rounded up an initial group of six leading correspondent banks to participate in proof-of-concept trials to determine if distributed ledger technology could help banks reconcile their nostro databases in real time.