The CFPB is reportedly planning new rules to stamp out P2P payment fraud.

On today's episode, we discuss why Zelle (and person-to-person payment apps) are in hot water, which service most Americans use, and how we'll be paying for things in 2026. "In Other News," we talk about the current state of the cryptocurrency crash and the impact Apple Pay Later will have on the buy now, pay later space. Tune in to the discussion with our analysts Jaime Toplin and Adriana Nunez.

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.

US Sens. Elizabeth Warren and Robert Menendez sent a letter to Early Warning Services regarding how it’s handling rising fraud.

Seven major US incumbents are partnering to roll out a service that lets consumers share financial data with participating businesses.

Some banks want to enable Zelle at big merchants, potentially to prepare for open banking disruption.

Payments Ecosystem: This year will reveal how providers must adapt to lasting pandemic-driven digitization across payments channels, ranging from in-store retail to B2B ecommerce.

The expansion of Zelle’s bank-backed platform as well as the launch of Chuck may spell trouble for Venmo.

The top 10 P2P payment apps worldwide

Zelle’s processed a whopping 436 million transactions worth $120 billion, and as the peer-to-peer payments space expands, it can target small businesses to capture more market share and grow its business.

Mobile proximity and peer-to-peer (P2P) payments have hit the mainstream, thanks to a pandemic-driven upswing in digital payments that is set to last. This trend is leading providers to diversify their offerings and compete for share of the market.

PayPal outpaces Venmo

The mobile peer-to-peer (P2P) space has grown in popularity over the years, thanks in large part to three key players that are propelling immense growth in both users and payment transaction value.

This annual scorecard, weighted based on responses to a consumer survey, ranks the 25 largest US financial institutions by assets by their mobile banking capabilities. The report presents detailed benchmarking data on the availability of 42 mobile features, selected by analysts based on the features’ propensity to help financial institutions differentiate themselves from competitors.

Our first forecast for peer-to-peer (P2P) mobile payments users in Canada shows a still-developing market with plenty of room to grow. This year, 19.7% of the country's population (or 6.0 million people) will be P2P mobile payment users. But that significantly trails the US market, where 30.6% of the population uses P2P payments.

eMarketer junior forecasting analyst Brian Lau shares our estimates for peer-to-peer mobile transactions and usage in the US, as well as why apps like Venmo and Zelle are strong market players.

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.

Mobile payments—both proximity payments and P2P transfers—continue to grow rapidly in volume. User growth is slowing, and increased spending will primarily come from existing users spending more often via mobile phones.

Mobile payments have been thought to be on the cusp of widespread adoption for several years now. But most consumers have responded to the technology with a noncommittal shrug.

This year, there will be 82.5 million mobile phone P2P payment users in the US, according to eMarketer estimates.