Alloy Lab News Today

Institutions that are already on the fence about joining the peer-to-peer network are expected to balk at the expense of standardized scam reimbursement, industry experts say. Small banks aren't openly opposing the concept yet, but many say they're still cautious about P2P.

The new service was designed to lower costs for community banks while adding security features and providing customers with access to Venmo and other peer-to-peer payment systems.