Boston, MA – December 19, 2013 – With mobile phone use skyrocketing, banks and third parties are rushing to corner the market on person-to-person (P2P) payments. So, what’s holding P2P back? Consumers expect P2P services to be fast and free, a costly proposition when success in the nascent market is far from guaranteed.
PYMNTS.com’s newest Report Store report, P2P Payments: Making a Loss Leader a Revenue Generator explores the revenue-generation strategies currently in use by banks and non-banks, along with the ways these platforms could approach monetization given the restraints of consumer behavior.
“To survive, services will have to provide customers compelling offers beyond simple convenience,” writes report author and PYMNTS.com senior analyst Jeff Green. “Many consumers will not see the need to use a phone or PC to pay someone when cash or a check will suffice, as they have for a long time. As such, changing consumer behavior will be a long-term challenge.”
In this report, we examine the changing P2P landscape, its emerging players, and the risk and reward that each takes by trying to capture the P2P market.
Highlights of this report include:
- A comprehensive overview of the P2P and remittance market
- A comparison of pricing, limits and functionality among various key providers
- A deep analysis of P2P exchange platforms
- A detailed summary of the key challenges facing the market
- An examination of current P2P market strategies
- Step-by-step chart overviews of P2P payment processes.
Companies mentioned in this report include: Acculynk, Ally Bank, Amazon, Bank of Me, Billr, Braintree, CashEdge, Chase QuickPay, clearXchange, Co-op Financial Services, Citibank, Citizens Bank, CrowdCube, CSI, Dwolla, eBay, First Data, Fifth Third, Fiserv, Go Fund Me, Google, Indiegogo, Kickstarter, MasterCard, My Running Tab, PayPal, PNC, RentShare, RocketHub, Seedrs, Splitwise, SpotMe Payments, Square, SunTrust, TextPayMe, Western Union, Venmo and Visa.The report is 18 pages long and contains 8 charts. Click here to purchase your complete copy.