Peer-to-peer payments are gaining so much popularity, that many believe it is paving the way for smartphones to be used to make in-store payments.
According to a new BI Intelligence report that was released by Business Insider, the volume of P2P payments is over $1 trillion. And only a small amount of that volume is from mobile phones.
The study predicts that in developed markets, the adoption of mobile P2P will take some time. However, the researchers still believe that this payments system has potential since t will solve “real pain points” with consumers.
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