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Payments General

Person-to-Person payments availability increases in US - report

Thursday 12 April 2018 | 01:23 PM CET

The last decade has seen significant growth in the availability of digital person-to-person payment methods in US, according to a report by Aite.

The “Person-to-Person Payments: How Americans Pass the Buck” report underlines the fact that the US consumers are actively exploring the use of new mobile payment services available through traditional financial institutions as well as those from alternative providers.

The report, part one of a two-part series examining the domestic and cross-border P2P payments landscape in the US, estimates the total size of the P2P payments market, evaluates the difference in US consumer payment behaviors between 2014 and 2017, and provides an analysis of the US domestic P2P payments environment.

In Q4 2017, Aite Group conducted a study of 1,974 US consumers, 18 years of age and older, who paid someone, gave money to someone, or transferred money to another individual from October 2016 to September 2017.

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