Peer-to-peer (P2P) payments are increasing significantly in the US, driven by tremendous growth from Venmo and Zelle.
eMarketer’s latest estimates show that P2P mobile transactions will total $309.95 billion this year, growing 27.9% to hit $396.48 billion in 2020.
The number of P2P payment users will continue to grow as well: They estimate that there will be 69.2 million users in the US this year, rising to 73.8 million by 2020.
Previous figures for P2P payment users were revised down to take into account a likely overlap in Venmo and Zelle users. Read the rest at eMarketer.