There's A Massive Opportunity In Peer-To-Peer Payments -- Here's Why They Could Be Such Big Business

Mobile peer-to-peer payment apps, which let people send money to one another instantly, are gaining rapid adoption in the U.S. and globally. For example, BI Intelligence estimates Venmo will process $US2.5 billion in volume this year.

The secret to the success of these apps is that they solve a real problem for users: They give them a way to pay each other when they don’t have cash or a check. For example, if you go out to dinner these apps make it easy to pay a friend back for covering the cost of your meal. In fact, among U.S. adults who use P2P payment apps, 49% say they use them for dining-related transactions, according to Nielsen.

In a new report from BI Intelligence we size the opportunity for mobile P2P transactions, take a high-level look at a handful of these apps and how they work, what the opportunities are for monetization, and explore how P2P payments could be the bridge to consumer uptake of mobile payments.

To access the full report and all our coverage of the payments industry, sign up for a free trial.

Here are some of the report’s key findings: 

The report is full of charts and data that can be downloaded and put to use.

In full, the report: 

BI Intelligence is a subscription tech research service, covering the payments, e-commerce, and mobile industries. For full access to all our reports, charts, and briefs, sign up for a free trial.


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