Some 36% of US consumers use peer-to-peer (P2P) mobile payment services, research from Bank of America has found. Millennials are most likely to use P2P services, with 62% claiming they already use the payment method. The study also found that millennials, who have been more vocal about their dislike for credit card fees, were less willing than other generations to pay a monthly fee on top of using online services. A total of 68% of consumers started using P2P services because of their convenience, while 48% cited peer influence as a reason for adopting the technology.
Some 36% of US consumers use peer-to-peer (P2P) mobile payment services, research from Bank of America has found. Millennials are most likely to use P2P services, with 62% claiming they already use the payment method. Just 34% of Generation Xers and 20% of baby boomers said they use P2P mobile payments, however, 45% of non-users plan to adopt the payment method within the next year. A total of 68% of consumers started using P2P services because of their convenience, while 48% cited peer influence as a reason for adopting the technology.