Digital Transactions
A recent survey of 530 small businesses conducted by The Strawhecker Group and titled “P2P Payment: A Disruption To Plastic?” reveals that 82% of small businesses reported accepting at least one form of P2P payment. Within that group, merchants reported accepting 59% of their total payments using digital P2P options. The survey was conducted for the Electronic Transactions Association during February and March.
The growing adoption of P2P payments by businesses comes a little more than two months after reports that Bank of America and Wells Fargo are leading a drive to push Zelle, the peer-to-peer payments service operated by Early Warning Services LLC, into retail payments.