If marketed properly, the tech can help it stand out from rivals and build customer trust before mass industry adoption.

US mobile peer-to-peer (P2P) payments have reached a critical mass, and spending is surging—but the media’s spotlight on fraud has stoked consumer concerns, threatening user and spending growth. In 2023, providers will tackle the security issue head-on as they aim to become consumers’ primary wallet.

Mobile P2P payments are reaching market maturity in the US as spending soars, but security challenges threaten to reverse gains. Providers are working to assuage consumer fears while adding a robust array of features to tighten user relationships.

The app’s expanding product suite could appeal to this group. But they won’t be an easy sell, and Block risks becoming over-reliant on Cash App.

Adoption of digital wallets is approaching critical mass, but they won’t replace physical wallets anytime soon. However, a super app may be on the horizon, especially if companies can crack the ability to integrate payments with shopping services.

The digital wallet is already the top P2P service among teens. Its youth-facing products could help monetize the app

Powered by cloud-based APIs, modern card issuing leapfrogs traditional issuer processing to help non-financial services companies launch and customize card programs. Here’s where their offerings will be most disruptive.

Surging Cash App user growth helped drive a buoyant Q1 for Block despite recent short seller allegations.

Elon’s X dreams will suffer from Twitter’s trust problem: Piecemeal partnerships, like its latest with eToro, won’t drive the earth-shattering change the social media platform needs.

The payments firm responded to some short-seller allegations. But its failure to address key claims could cause future problems.

Consumer device and behavior trends are affecting payment providers’ strategies across retail, P2P, B2B, disbursement, and cross-border channels. Here’s what that means for the payments ecosystem.

It wants to develop more adjacent services for the Cash App ecosystem, which could help it maintain its Q4 growth trajectory.

Gen Zers’ influence on banking will begin to emerge as more than 4 million of them per year become mobile bankers through 2026. Banks must adapt to provide the services these digital natives demand.

From enabling Apple’s softPOS to expanding its BNPL program, we look back at the biggest announcements from Block this year.

Adyen will let its US merchants offer the payment method, which can help Block drive adoption as P2P growth slows.

Cash App users can now pay on popular retail sites like American Eagle and JD Sports, which can help Block boost payments volume and revenues.

With UK proximity mobile and peer-to-peer payments stagnating, providers in the market will be forced to focus on ways to resolve pain points, engage top user demographics, and facilitate growth around the margins.

With more than 6 in 10 smartphone users adopting mobile peer-to-peer payments in the US across multiple apps, providers are looking to widen their addressable base, mitigate pain points, and drive engagement.

By 2026, nearly 30% of US consumers’ average retail spending (excluding food and beverage sales and ticketing) will be made using proximity mobile payments, as providers look to build on the pandemic-driven adoption of the technology.

Block’s gross payment volume increased 31% YoY, aided by strong Cash App engagement.