蘑菇AV

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

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

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

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.

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

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

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.

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

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

X is developing a digital dashboard that would facilitate sending and receiving P2P payments. It also has secured 39 state payments licenses. Forward momentum: Visa announced a partnership with the platform this January that will enable instant funding through Visa Direct for X Wallet for users. Visa Direct can transfer funds to US bank accounts in one minute or less.

Note: Digital ad spending includes banner ads and other (static display ads such as Facebook's 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, and paid listings, and excluding display-oriented formats on social

This is especially true for Venmo, which is fighting to shed its reputation as solely a P2P provider. Our take: For Taco Bell enthusiasts, 20% cash back every week may be too good of an offer to refuse.

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.

EWS is primed to be a leader for this initiative as the operator of Zelle, the connective tissue between banks for P2P transactions. What鈥檚 the value add for banks? With an institutional stablecoin鈥攚hich holds a one-to-one exchange ratio with the dollar鈥攂anks can speed up transactions, especially for cross-border payments.

The strategy: While Venmo is known as a peer-to-peer (P2P) payments provider, PayPal is continuing its long fight to make the app a full-service platform to improve its profitability. Letting users add the debit card to their mobile wallets will likely increase Venmo鈥檚 payment volume on everyday transactions, especially among digitally native Gen Zers who favor using mobile wallets for payments.

Venmo is marketing itself as a payment platform shoppers can use for 鈥渆verything鈥� as it tries to make the app more profitable by breaking out of the P2P box. Extending its volume opportunities through tuition, school purchases, and athletic events could build payment habits in young consumers that lead them to use PayPal more frequently through the rest of their lives.

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.