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While meme coins don鈥檛 have a long-term future as a payment method, there is growing momentum for stablecoin crypto payments

Note: Digital ad spending includes banner ads and other (static display ads such as Facebook's News Feed Ads and X's Promoted Posts), classified ads, email (embedded ads only), mobile messaging (SMS, MMS, and P2P messaging), rich media (including in-stream and outstream video ads), search ads (including contextual text links, paid inclusion, paid listings, and SEO), sponsorships, lead generation (referrals

For P2P marketplaces, individual sellers have the responsibility for listing items for sale.

PayPal is also monetizing the P2P app with Pay with Venmo. The average revenue per Pay with Venmo account is roughly three times that of all Venmo accounts. And monthly active users grew 20% YoY in Q3. Moving forward, PayPal plans to bundle Pay with Venmo with PayPal Checkout to expand its merchant network.

Access to Venmo鈥檚 peer-to-peer (P2P) transaction data further expands the pool it can mine for targeting insights. Click here to view the full forecast for worldwide PayPal core users. Weaknesses. PayPal is predominantly used for money movement, not shopping. And its lack of a banking license gives it a limited number of financial products from which to extract and analyze holistic data. Revolut.

Digital wallets鈥� transformation into commerce enablers speeds up. We make a case for digital-only consumer credit cards. And we see a new threat that BNPL poses to credit cards.

PayPal has also tried to grow Pay with Venmo to monetize the peer-to-peer (P2P) app. Our take: Cash App Pay already has a long way to go to catch up to established competitors like PayPal, but the crowded field of buy buttons will make it even harder for Cash App Pay to gain significant adoption.

And many peer-to-peer (P2P) players and mobile wallets offer their own branded debit cards to encourage direct deposits and keep consumers in their ecosystems. What鈥檚 next? Debit card issuers need to be ready for a potential interchange clampdown.

It tried to encourage a number of consumer uses鈥攆rom P2P payments on Venmo to remittances on PayPal-owned Xoom鈥攂ut adoption has been slow. While it has grown to become the seventh-largest stablecoin by market cap ($694.6 million), according to CoinMarketCap, it is dwarfed by industry leaders Tether ($119.62 billion), USDC ($35.56 billion), and Dai ($5.36 billion).

Person-to-person (P2P) transfers make up the bulk of Pix transactions, but their share has declined precipitously in recent months as more people use it to pay businesses directly. Pix is taking consumers and businesses in Brazil by storm. Its immense user popularity has prompted merchants to leverage Pix as a key part of their payment and sales strategies to attract shoppers and drive sales.

Self-driving car companies might rely on ride share platforms until consumer accessibility expands and manufacturing costs drop. But this strategy could drive down wages for human drivers.

Note: Digital ad spending includes banner ads and other (static display ads such as Facebook's News Feed Ads and X's Promoted Posts), classified ads, email (embedded ads only), mobile messaging (SMS, MMS, and P2P messaging), rich media (including in-stream and outstream video ads), search ads (including contextual text links, paid inclusion, paid listings, and SEO), sponsorships, lead generation (referrals

Credit card-enabled peer-to-peer (P2P) payments can tap transactions that play a huge part in consumers鈥� financial lives. It鈥檚 a trillion-dollar opportunity for issuers: US mobile P2P payments transaction value alone will top $1.139 trillion in 2023, per our forecast.

Digital ad spending includes banner ads and other (static display ads such as Facebook's News Feed Ads and X's Promoted Posts), classified ads, email (embedded ads only), mobile messaging (SMS, MMS, and P2P messaging), rich media (including in-stream and outstream video ads), search ads (including contextual text links, paid inclusion, paid listings, and SEO), sponsorships, lead generation (referrals);

Fintechs, banks, and the government will reshuffle the payments deck in 2024. New features and competition will redefine the digital wallet user experience, and FedNow will pivot payment flows in new directions.

This report presents five of the most intriguing and/or under-the-radar positive forecasts for 2024 that clients should be aware of, as compiled by our forecasting team.

Four banks that partnered with payments app Zelle reported that losses to P2P payment fraud on the app likely exceeded $255 million last year, soaring from $90 million in 2020, per a report by Sen. Elizabeth Warren. P2P payments platforms Cash App and Venmo are also under fire over fraud concerns.

The peer-to-peer (P2P) payment service is becoming more popular with the demographic, but only 18% of upper-income adults use Cash App, according to Pew Research Center. They want more options for how to use their money on the app, Dorsey said at a JPMorgan Chase investor conference, per Payments Dive. Why widening appeal could work:.

The leaders on the US recommerce scene are two P2P marketplaces. The peer-to-peer (P2P) model is the most popular for online recommerce and allows buyers and sellers to connect easily at a relatively low cost to the operator. eBay still maintains a commanding lead when it comes to recommerce.

But it鈥檚 falling behind the pack without the ability to make multiple peer-to-peer (P2P) payment requests鈥攕omething the other top banks in this category offer. The Most Important Feature to Add. Although 45% of consumers considered setting up electronic direct deposit in-app 鈥渆xtremely valuable,鈥� only four banks offered it.

Growth drivers: More than 6 in 10 US smartphone users make P2P payments, according to our US P2P payments forecast, signaling saturation. Though there鈥檚 still plenty of untapped volume, market maturity is going to make growth more challenging in the years to come, forcing Zelle and its competitors to seek growth in untapped areas.

These measures could help the provider sustain its growth trajectory: Zelle, which is the most popular P2P payment platform by volume, is on track to hit $531.01 billion in US transaction volume by the end of 2022, per Insider Intelligence forecasts. By next year, that number is expected to reach $708.37 billion. The bigger picture: Fraud is an industrywide issue in the P2P payment space.

Nearly 60% of sellers preferred more direct peer-to-peer (P2P) resale channels, per an April 2022 Morning Consult survey, and only 11% would opt for consignment. Buyers exhibited more of a split among P2P (39%), consignment (24%), and no preference (38%).

Customers are replacing checks with mobile P2P. Just 9% of P2P payments were made via check in 2021, while mobile apps鈥� share of transactions nearly doubled from 2020, the Fed reported. Business Checks鈥� Usage Decline Accelerates. Checks remain the top method for business transactions in the US, but usage is plummeting to record lows.