蘑菇AV

It鈥檚 a major win for the P2P player as the Trump administration dismantles the agency

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

Fraud concerns aren鈥檛 slowing down the P2P player as its growth outpaces peers

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

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

But the social media platform may struggle to get its users on board unless it can differentiate the P2P service from its peers

While the lawsuit may not go anywhere under Trump鈥檚 CFPB, the P2P platform鈥檚 continual fraud concerns may damage its reputation

US P2P apps need to tap new uses and services to stay competitive, especially amid Zelle鈥檚 dominance. Here鈥檚 how each app sizes up and differentiates to attract younger generations.

In the fourth of five reports in our 鈥淧ayments 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.

The agency has launched similar inquiries with other major banks. These could create reputational problems for the P2P platform

As younger generations use the P2P app for more of their banking needs, it鈥檚 still missing key financial services.

This feature will help Venmo catch up to other P2P apps and bring in more frequent users.

P2P loans are gaining traction among US consumers and could benefit mortgage lenders. P2P loans are still nascent in the mortgage space. Few P2P lenders offer mortgages, and many consumers aren鈥檛 even aware they鈥檙e an option, per Private Capital Investors. But P2P is becoming increasingly prevalent in the wider US lending space, with revenues set to nearly double between 2020 and 2030, per IBISWorld.

Block鈥檚 push to 鈥渂ank our base鈥� took time and resources away from growing that base, which is crucial for a P2P company鈥檚 success. Consumers won鈥檛 use a P2P platform if their friends and family members aren鈥檛 also using it. And growing adoption of its banking services may also be tough until it expands the products and services it offers.

The update should help consumers feel safer using the P2P app, which may help boost Apple Cash adoption

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.

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.

Mobile P2P payments are struggling to capture users in Canada. But banks and digital wallet providers can lean into their respective strengths to create a rosier outlook for growth.

Prior to the federal judge pausing these firings, CFPB leadership announced the agency will deprioritize issues like medical debt, P2P lending, student loans, consumer data protections, and digital payments.

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. Why it matters: Feature innovation can help Google Wallet better compete against鈥攐r in this case, catch up to鈥擜pple Wallet, which boasts a clear lead in terms of mobile wallet users.

UK mobile P2P payments usage growth has a case of the doldrums鈥攂ut bank and digital wallet providers can explore several options to give it a boost.