Google – Real Time P2P – Rumor

Free Blog – Google will announce real-time payments in Google Wallet pilot with JPMC and at least 2 other banks this month


UPDATE – I no longer beleive P2P is focus, but rather Request for Payment and merchant integration. Blog forthcoming today.


I have no idea what this looks like, so congrats to Google for keeping this locked down. The following is my best “guess” on a pilot, based upon:

  1. What Google has launched internationally (Tez) and GPay through India’s UPI (highly recommended read here)
  2. Changes/Focus Bill Ready put in place before his departure as new CEO of Pinterest. Remember Bill was CEO of Braintree (the most significant acquisition PayPal ever made).  Braintree enabled payment APIs for online and mobile merchants (among other things). 
  3. Prior to Bill, Google’s support and advice for FedNow  (see article)
  4. Understanding of what Banks want to accomplish (ex TCH tokens in mobile phones). 
  5. My short time in Google during the creation and launch of Google Wallet. Particularly the exec team’s desire for a global P2P service.
Continue reading “Google – Real Time P2P – Rumor”

Amazon Takes Venmo…

This is a win for PayPal and Amazon. Paypal gets: 1) incremental volume and 2) consumer behavior for Venmo in eCommerce, 3) easy extension into BNPL with Venmo transaction.

Big news from PayPal’s earnings yesterday was Amazon taking Venmo. I wanted to summarize the 15 tweets on the topic and provide a little more background into the dynamics. 

Amazon is an amazing company from a people perspective, perhaps the best TEAM I’ve had as a customer. They always proceed within a plan and purpose. So why Venmo?  As I related 2 weeks ago, Amazon is working to reduce the costs of payments. They have managed fraud down to 3bps.. So why can’t their processing costs look a lot more like Walmart? They have been successful in achieving this in EU (Sepa DD) and India (see blog), but the US remains (by far) the highest cost geography. 

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