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All of these launches are part of Apple’s push to improve the functionality of the Apple Cash Card and to grow its peer-to-peer (P2P) payments share after rival Google Wallet ended its P2P service. Our take: The change in payments strategy reflects Apple’s larger approach to focus more on outsourcing services through partnerships rather than building the infrastructure in-house.

Customers can transfer PYUSD between PayPal and external wallets, send peer-to-peer (P2P) payments, use it for purchases at checkout, and convert supported cryptocurrencies seamlessly. This move also strengthens PYUSD’s role in cross-border transactions by enabling faster, cheaper, and more stable global transactions. Crypto debit card usage will grow, enabling seamless crypto-to-fiat spending.

Gen Z has also embraced Zelle, as the bank-owned app keeps building a bigger share of peer-to-peer (P2P) transaction value and usage. Gen Z will also propel in-store mobile wallet usage.The number of Gen Z mobile proximity payment users will rise from 32.8 million in 2024 to 50.0 million in 2028, per our forecast—which will represent 37.7% of overall users.

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—making the most of a population that doesn’t yet have strong P2P brand loyalty.

The wallet only offers peer-to-peer (P2P) transactions. It won’t add online consumer-to-business (C2B) payments until 2025 and in-store payments until 2026. And it will take time to get consumers and businesses to make the switch and grow adoption across Europe.

Budgeting concerns, high interest rates, and other factors are pushing the generation to alternatives.

Peer-to-peer (P2P) recommendations carry more clout than influencer partnerships. Independent comments, reviews and ratings, and friends’ posts and recommendations are more likely to drive conversion than endorsements from content creators and influencers, per Retail Economics and TikTok.

Max adds new paid sharing feature with profile transfer tools: As inflation rises, Max bets on flexibility over price hikes to reduce churn and increase retention.

The rule would require larger payment apps to be regulated like banks. Ending this rule would be a win for Apple Pay and Google Wallet

The bank will start blocking more transactions that originate from social media

Zooming in on Cash App: Services outside of Cash App’s popular peer-to-peer (P2P) payments product were key growth drivers this quarter. The number of Cash App Card active users increased 11% YoY, totaling 24 million. And spend per active user also increased on a yearly basis.

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.