This decision feeds into the rising enthusiasm for stablecoin as the future of payments.

Changing regulatory stances and incentives could coax banks into crypto to avoid payments disintermediation.

Paying by smartphone is now routine for a growing number of consumers, both in stores and online. Recent data shows the size of the user base, shifting demographics, shopper preferences, and how mobile fits into the spectrum of payment options.​

The P2P player was able to make this pivot thanks to the success of its integration in banks’ apps, which currently lead to 98% of its transactions

This leaves the BNPL industry back at square one in terms of regulation, creating uncertainty for providers

The rule would require larger payment apps to be regulated like banks. Ending this rule would be a win for Apple Pay and Google Wallet

It’s a major win for the P2P player as the Trump administration dismantles the agency

The bank will start blocking more transactions that originate from social media

Fraud concerns aren’t slowing down the P2P player as its growth outpaces peers

The directive from acting Director Scott Bessent throws recent payments rules like the open banking and BNPL rules into flux

Working with Visa will bring the future P2P platform added trust and security—as well as real-time payment capabilities

The enforcement action provides closure that could help boost the P2P app’s customer satisfaction in the long run

But the social media platform may struggle to get its users on board unless it can differentiate the P2P service from its peers

While the lawsuit may not go anywhere under Trump’s CFPB, the P2P platform’s continual fraud concerns may damage its reputation

Gen Z is the first mobile payments-native generation. By 2028, 67.8% of US adults will be mobile wallet users, per our forecast. Gen Zers are already way ahead: 85.1% made an in-store or online payment using their phone in 2023, according to Federal Reserve Bank of Atlanta.

Gen Zers are driving growth in both emerging and traditional payment methods as they embrace cards, BNPL, and digital wallets. Payment providers must now align their offerings with Gen Z’s preferences as the cohort’s spending power grows.

The agency has launched similar inquiries with other major banks. These could create reputational problems for the P2P platform

Two US payment systems—FedNow and the RTP network—are driving real-time payments growth. New features, industry innovation, and emerging use cases will help them overcome implementation hurdles.

US P2P apps need to tap new uses and services to stay competitive, especially amid Zelle’s dominance. Here’s how each app sizes up and differentiates to attract younger generations.