June 20, 2017Blog Posts

PayPal brings instant bank transfers to Venmo


With bank-backed rival Zelle looming, PayPal is revamping its Venmo P2P payments service to let users transfer money to their bank accounts via eligible debit cards in a matter of minutes, rather than the day it currently takes. The new feature – currently in beta but coming to all US users in the next few months – is the fruit of PayPal’s recent detente with Visa and Mastercard after years of bitter rivalry with the card giants.


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