蘑菇AV

Payment provider innovation and regulatory changes are setting a long-term growth runway for cryptocurrency payments. But providers will still need to overcome low merchant acceptance and a sense of mistrust before crypto can go mainstream.

The P2P player was able to make this pivot thanks to the success of its integration in banks鈥� apps, which currently lead to 98% of its transactions

Since then, the payment provider has launched a stablecoin and enabled crypto-based P2P payments. The bigger picture: The crypto market had been riding a high since President Trump was elected in November on the hope that expected regulatory clarity (and friendliness) would boost consumer investment and provider buy-in.

Why it matters: Splitting payments is one of the main use cases for peer-to-peer (P2P) payments. 蘑菇AV one in five (19%) of Gen Z consumers in the UK and 12.5% of UK millennials routinely turn to digital wallets for bill payments, per a July 2024 PYMNTS Intelligence survey. Other P2P payment providers have also been pushing innovation for this use case.

Keep an eye on Gen Z鈥檚 P2P payment usage and VR adoption. Gen Z peer-to-peer (P2P) payment usage is rising quickly as the generation becomes more independent and engages more in commerce. Our forecast indicates that 61.3% of Gen Z smartphone users use P2P payment platforms, increasing to 83.0% in 2028鈥攋ust 1 percentage point behind millennials.

Working with Visa will bring the future P2P platform added trust and security鈥攁s well as real-time payment capabilities

Just a third of adults in Canada will use mobile peer-to-peer (P2P) payments this year, and adoption will barely grow through 2027. Mobile banking apps and digital wallets must rethink their strategies to capture P2P users鈥攎aking the most of a population that doesn鈥檛 yet have strong P2P brand loyalty.

In the fourth of five reports in our 鈥淧补测尘别苍迟蝉 Ecosystem鈥� collection, we look at what鈥檚 influencing growth across P2P, remittance, bill pay, payroll, and B2B transactions鈥攁nd what it means for payment providers.

And it鈥檚 not the only mobile wallet to launch kid- and teen-oriented payment features. Apple Cash Family lets parents load money into their children鈥檚 accounts and limit who they can send money to. Apple Card also has a family feature. Cash App lets teens make P2P payments and apply for its debit card with parental supervision. And Venmo鈥檚 Teen Account comes with a linked debit card.

Gen Zers are driving growth in both emerging and traditional payment methods as they embrace cards, BNPL, and digital wallets. Payment providers must now align their offerings with Gen Z鈥檚 preferences as the cohort鈥檚 spending power grows.

Weaker discretionary spending would curb payment volume for Square sellers and potentially lower adoption of Cash App鈥檚 crypto services.

Two US payment systems鈥擣edNow and the RTP network鈥攁re driving real-time payments growth. New features, industry innovation, and emerging use cases will help them overcome implementation hurdles.

Why this matters: 蘑菇AV 63% of Gen Z credit card users have switched to another payment method, per Cash App Afterpay. Gen Zers are trading down to debit cards or other alternatives like buy now, pay later (BNPL), potentially eroding payments volume, swipe fee revenues, and interest income for issuers.

Leading cash-back credit cards need to drive acquisition in a cutthroat segment of the card market. Our exclusive consumer survey data reveals which emerging features issuers should invest in to win over customers.

Digital ad spending in the payments industry is set to surge as consumers start to get through the financial headwinds of the past few years. We look at where payment providers should focus their ad spend to maximize returns.

Holiday spend, international transactions, and non-card payments boosted growth

The enforcement action provides closure that could help boost the P2P app鈥檚 customer satisfaction in the long run