P2P payments app Zelle continues its dominance

Financial Well-being

Peer-to-peer Bitcoin trading platform Paxful recently eclipsed 3 million wallets as it continues to expand its services to users globally. The company’s CEO ray Youssef highlighted that younger demographics more widely prefer to use p2p marketplaces for cryptocurrency services:

Peer-to-peer Bitcoin

“We just conducted a study which stated that more than half of Millennial and Generation Z respondents are interested in peer-to-peer trading as opposed to simply owning crypto or purchasing on exchanges. This further signals the importance of an interconnected, peer-to-peer economy. We’re thrilled to be able to say this statistic has proved itself even more valid due to Paxful’s steady growth.”

One of the markets in which Paxful is quickly growing is South Africa, where the company saw a 2,800% increase in trading volume in October compared to the same month last year. South Africa is currently being viewed as the next big cryptocurrency market for exchanges, and Paxful’s business highlights this sentiment.


Deputy Governor, Reserve Bank of India, Viral V. Acharya, sees the immense importance of peer-to-peer loans in a nation where microloans are very common. Acharya noted that banks aren’t likely to take on such small loans, which leaves p2p services to fill in the gaps for businesses and consumers:

Reserve Bank of India

“A sum of Rs 1 lakh as a loan is not very attractive for a bank, but for a P2P platform, it makes very little difference. Riding on technology, costs have been cut and for P2P lenders it makes sense to even lend to low ticket loans. This means loans can be broken down into levels that actually suit the needs of the borrowers, while keep lenders interested.”

This combination has helped p2p lending in India thrive. Because the credit need of the country is substantial, p2p lending from companies such as Faircent and Lendbox will continue to be an important piece of the Indian economic landscape.


Discover is the latest financial institution to make p2p payments provider Zelle a part of its ecosystem. Discover customers can now send and receive money using Zelle from almost any bank account in the United States through their Discover mobile app and online account center.

Discover vice president of deposits, Ram Subramanian said:

Discover Bank

“Giving Discover Bank customers the ability to send and receive money between friends and family is a natural extension of our commitment to offer a seamless, full-service digital banking experience. We are continually listening to what our customers say and are excited to offer Zelle to improve their banking experience.”

Zelle is taking the financial world by storm. In the third quarter of 2019, the company showed a 73% increase in transaction volume with $49 billion sent via the Zelle Network over the quarter. Zelle already has 254 financial institutions processing transactions on the network, with a total of 600 institutions contracted to participate in the p2p network at some point in the near future.


The Sustainable Energy Development Authority (Seda) of Malaysia is now encouraging p2p renewable energy trading. Through a program sponsored by Seda, Malaysians will be able to sell excess solar energy generated by their solar photovoltaic (PV) panels.

If buyers purchase energy via this program they will be subject to lower tariffs, and in return, lower energy prices. Seda chairman Wong Kah Woh highlighted the benefits:

Renewable energy

“The current tariff charged by TNB is 50.9 sen, so the consumer still sees savings of 11% if he buys from the prosumer,” Wong said. “In the pilot run, only consumers with higher electricity tariff – Tariff B or Low Voltage Commercial Tariff – who pay 50.9 sen per kWh will participate.”

Malaysia is jumping on the bandwagon of other countries, like Australia, which has already implemented p2p renewable energy trading for residents.


The p2p film and camera industry is consolidating. The US-based Sharegrid recently acquired BorrowFox out of the UK to expand its operations to foreign markets. CEO and co-founder of ShareGrid, Marius Ciocirlan, sees the two companies as having very similar visions:

p2p film and camera industry

“At ShareGrid, our mission is to enable all filmmakers and photographers, regardless of background, budget or location, to have access to cutting-edge and affordable equipment. We see the acquisition of BorrowFox as an exciting opportunity to enter the U.K. market, and build on a company that has had a similar vision from the start.”

The acquisition will help ShareGrid host even more users. The company expects that with its expansion it will offer over $1 billion worth of camera equipment and film to 100,000 users on its platform.