Zelle vs Venmo vs your credit union

The big guns are blasting, consumers are switching to p2p, mega banks are cashing in and where exactly does that leave you?

Several reports now are out on p2p and the inescapable conclusion is that Americans like p2p.  A lot. Many billions of dollars worth.

In a report written by Cornerstone’s Ron Shevlin and commissioned by Q2, Shevlin said “Consumers will rack up roughly $478 billion in P2P payments in 2018—a little more than half of that going through their banks or credit unions.”

Hear more from Shevlin in his CU2.0 podcast here.  It’s a lively look at “Is the Party Over?”

Surprisingly, PopMoney – once written off as dead by many – is at least on life support, per Shevlin’s research.  He said 7% of consumers use it. Will that number grow? Hard to say but PopMoney does not look like a big winner in this race.

 

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