Embracing the Future of Payments with Payment Hub

The Rise of P2P Payments: In today’s digital-first world, consumers increasingly expect fast, convenient, and secure payment experiences. Peer-to-peer (P2P) payments have emerged as a popular choice for individuals and businesses alike, offering a seamless and efficient way to send and receive money.

According to PYMNTS, 51% of Americans are using P2P regularly and consumers are expecting their primary financial institutions to offer P2P capabilities.

The Challenges of Payment Systems

Many financial institutions and fintechs struggle with the outsized resources and investment required to individually integrate with multiple, in-demand real-time movement networks. Traditional payment processing platforms can be complex and time-consuming to integrate with P2P networks, limiting organizations’ ability to offer these valuable services to their customers. 89% of financial institutions believe that not offering real-time payments will negatively impact their business.

This fragmented landscape creates significant hurdles, hindering their ability to offer consumers and SMBs the seamless and efficient payment experiences they expect. In fact, research shows that 75% of US consumers use some form of faster payments. The complexity and cost associated with these integrations can limit innovation and slow down growth.

Payment Hub: Powering Modern Payment Solutions

Payment Hub enables financial institutions and fintechs to connect their current platform to in-demand money movement services via a single API integration – without having to invest time and resources to build individual connections on their own or change processors.

Simply leverage the i2c platform to connect to real-time payment networks like FedNow, Visa Direct and ACH to meet consumer demand for convenient and secure digital payment solutions.

Key Benefits of Using Payment Hub for P2P Payments

Payment Hub is the most advanced offering of its kind on the market today. Featuring a streamlined, API-based integration with reporting and reconciliation capabilities, as well as fraud monitoring, users benefit from the full flexibility, scalability and global reach of the i2c platform.

• Seamless Integration: Payment Hub seamlessly enables money movement with your existing systems, making it easy to add P2P payment capabilities.
• Drive revenue growth: Grow your product offerings to meet the evolving needs of your customers.
• Improve profitability: Streamline your operations, reduce costs and increase efficiency through digital solutions.
• Increase customer lifetime value: Foster long-lasting relationships with your customers by providing exceptional digital experiences.
• Reduce time to market: Quickly implement real-time payment networks with existing infrastructure.
• Improve customer loyalty & retention: Deliver personalized and convenient digital experiences that exceed customer expectations.

The Demand for Digital Payments

Consumers are increasingly demanding digital payment solutions, and P2P payments are at the forefront of this trend. According to eMarketer, the average P2P app user will send an average of $7,214.38 in 2024. By offering modern payment solutions through Payment Hub, you can meet the expectations of your customers and gain a competitive advantage.

Staying up-to-date with evolving technologies in today’s fast-paced world can be a challenge. With Payment Hub, you’re armed with the innovations that position your financial institution or fintech for success in the future of payments.