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Mi-Pay Group Plc

Instant payment apps grow up. They’re not just for millennials anymore

You know a platform or tech is successful when it becomes a verb. A payments app owned by PayPal joined the ranks of Google and FedEx(at least in verbal usage) a few years ago when millennials began “Venmo-ing” each other to settle bar tabs.

Mobile peer-to-peer payments now include Square, Apple Pay Cash and Google Pay, among others. Less than a year ago, Zelle entered the space and quickly became a huge player.

One reason for its success: Zelle is not only a standalone app, like Venmo. In addition, it integrates with a user’s existing banking app. The digital payments network now works with Bank of America, BB&T, Capital One, JPMorgan Chase, PNC Bank, US Bank, SunTrust and Wells Fargo.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.