P2P transfers finally to become a reality?

For the banking industry, person-to-person payments have been a slow starter, but some believe that it is finally taking off. It just makes sense in this day and age for banks to enable customers to make payments to other people from their bank accounts. You have to think that the rise of PayPal has paved the way for this. 

Bank Technology News reports that CashEdge, which has relationships with all the top banks, launched a P2P service this summer. MasterCard has launched a mobile phone P2P service. Three Canadian telecom providers have made similar moves. In the past, more info was required. Citigroup, BankOne and Wells Fargo are among the banks that have tried and failed to establish such services. But that may now change. The new services allow you to transfer funds simply by knowing the recipient's email or cell phone number. In the past, much more info was required. Thank you PayPal.  

For more:
- here's the article

Related Articles:
Citi launches person-to-person mobile pay pilot
Bill Gates eyes m-banking as the future
The end of bank branches?