US P2P apps need to tap new uses and services to stay competitive, especially amid Zelle’s dominance. This report looks at how each app sizes up and differentiates to attract younger generations.
Peer-to-peer (P2P) payment apps are nearly ubiquitous in the US, and each is trying to craft a compelling use case to attract younger generations. The report forecasts size up each app by volume and number of users and explore how they’re competing for P2P spend.
Key Question: What attracts users to each P2P app, and how are apps preparing for the brief window to capture younger consumers’ loyalty?
Key Stat: Nearly three-quarters of US smartphone users will send money over P2P payment apps by 2028, per the forecast. Attracting Gen Z and Gen Alpha will be critical for apps to keep growing in such a saturated market.
Key Report Features:
- Exportable files for easy reading, analysis and sharing.
- Reliable data in simple displays for presentations and quick decision making.
Table of Contents
- Executive Summary
- P2P transaction value growth will rapidly outpace user growth
- Zelle is the uncontested leader of P2P apps
- Venmo is using new features to retain users and spend
- Cash App is trying to move upstream
- PayPal is a mobile P2P also-ran
- Sources
- Media Gallery
Charts in This Report
- US Gen Z P2P Payment Users, 2024-2028 (millions and % change)
Companies Mentioned
- Zelle
- Venmo
- CashApp
- PayPal
