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Person-to-person (P2P) payments may not be transforming the retail payments in one fell swoop but indications are they are beginning to make their presence known, a new TowerGroup study suggests. Recent research from the company has found that the P2P arena is now developing in a variety of directions, establishing a more substantial pool of Internet-based payment products designed to support a range of consumer and business needs.
"The industry appeared to be one thing, yet is emerging as countless others," said Beth Robertson, TowerGroup e-Banking senior analyst and author of the report. "Many providers have extended the P2P concept to a much broader transaction arena that can generate the fee income necessary to support viable businesses. The...