Person-to-person (P2P) payments has been a hot topic in the financial services space. Zelle can already reach more than 50% of all direct deposit accounts (DDAs) in the U.S., and Zelle’s partnership with Mastercard and Visa will soon allow it to reach approximately 97% of all DDAs.1 As P2P has grown, more alternative players have gotten into the mix. Google is attempting to entrench itself into financial services by offering DDA accounts, leading to allegations on how P2P will be further leveraged via Google Pay. Facebook expanded its P2P payment solution to enable additional commerce between marketplaces and platforms. Amazon Pay plans to enable voice-based bill payment which is likely to create a new wave of P2P innovation. Being able to say to your mobile device, “Send Susan from Facebook $80 to pay for my share of dinner last night,” might be closer to reality than we think. We have to concede that competition, especially from unconventional providers, is expected to get even more convoluted in 2020.