I have a bank as a copywriting client and they mentioned, as one of their services, ZashPay, which functions like Paypal in sending money from one person's bank account to another person. Then a couple of hours later I heard on the radio that AllyBank is offering something called Popmoney, which does the same thing.
From what I can tell, if you're the one wanting to initiate the payment, your bank has to be signed up with one of the services before you can use it. And I didn't get a clear sense of what kind of fees are involved.
But I'm guessing that these services will spread quickly among banks, and they may spread to the business functions that many of us use Paypal for as well.
Anyone been following this trend that has more information or insight on it?