AT A GLANCE: P2P SOLUTIONS Solution ExcheQ Provider Advantages NA Corporation, a holding company of North American Banking Company; Design Center of St. Paul; United Banker's Bank PayPal PayPal Leverages existing infrastructure (ACH) and can accommodate sameday settlement Off ers widespread familiarity and a large number of accounts due to established history People Pay FIS Creates a real-time, whitelabel solution that works with any core Popmoney Fiserv Creates a white-label solution that works with any core Social media solutions Facebook, Twitter Leverages platforms where customers already are; used more for one-off payments Square Cash (aka Cash App) Square Off ers a lot of options beyond sending and receiving p2p payments The Pays Apple, Samsung, Google Boasts a built-in user base, linked to a device or other account; draws on credibility of known brands Venmo PayPal Provides a social component; off ers a simple, straightforward payment; has strong adoption and use Zelle Early Warning Solutions (bank-owned) Off ers a bank-centric solution that's building toward ubiquity; leverages the trust customers have for their banks; supported by signifi cant promotional campaign Disadvantages Off ers limited adoption today; not real-time money movement Disintermediates the bank Acts as a " send network " only; may not receive money in real-time; doesn't tap into a larger promotional engine Does not off er real-time in standard feature; has higher fees associated with immediate transactions Disintermediates the bank Disintermediates the bank; positions as an option for a suite of more traditional bank solutions, as well as for cryptocurrency Disintermediates the bank; targets users based on device/account Disintermediates the bank Remains a costlier option; creates less fl exibility for platform structure and branding independentbanker.org Q 65http://www.independentbanker.org