UK Challenger Banks Are Rolling Out Location Based P2P Payments

In the UK Revolut has rolled out a peer to peer payments feature called “Near Me” which lets their users send money to each other without knowing their contact details. Monzo has rolled out a similar capability called “Nearby Friends”. These challenger banks see this as a feature to increase app usage. No such capability exists for US consumers despite the popularity of P2P payments services like Venmo and Zelle. Source.

  • Peter Renton

    Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s largest digital media company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.