When people want to send money to someone, the first question they ask starts with “do you have,” followed by the name of a person-to-person (P2P) payments provider.
Credit unions want to be part of that conversation.
While the volume of P2P payments has grown exponentially over the past few years, consumer awareness still lags. According to Fiserv’s 2021 Expectations & Experiences consumer trends survey, 47% of consumers don’t know if their financial institution offers P2P services.
The same research shows that increasing consumer use of P2P payments can boost engagement and long-term loyalty. To capitalize on these benefits, credit unions can deploy three marketing strategies to increase member awareness and adoption of P2P services.
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