PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Person-To-Person Payment Apps Are Eroding Cash Use:

By PaymentsJournal
January 14, 2020
in Cash, Debit, P2P, Truth In Data
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

Don’t miss another episode of Truth In Data! Click on the red bell in the lower-left corner of your screen to receive notifications as soon as the episode publishes.

Data for today’s episode is provided by Mercator Advisory Group’s report – 2019 ATM Benchmark Market Report.

Person-to-Person payment apps are eroding cash use:

  • 73% of U.S. consumers used cash as a gift in 2019
  • Zelle & Venmo combined to transfer over $181 billion in 2018
  • Combined, Mercator predicts P2P apps to transfer over $205 billion in 2019
  • By dollar volume, Zelle is almost twice the size of Venmo with $119 billion in transactions
  • P2P transactions might encroach on cash in auto payments (34% use cash for)
  • P2P transactions might also impact cash’s use in food & personal care (34%)
  • 24% of consumers use cash to pay for medical, education and personal services as well

About this report

Despite continued pressure from digital payment products, particularly person-to-person (P2P) applications like Zelle and Venmo that are used to pay back other individuals or to send a gift electronically, ATMs remain a fixture in the banking market. On the horizon is the growing threat of contactless cards, predicted to grow rapidly in the next two years, replacing small dollar purchases at the point-of-sale. A new research report from Mercator Advisory Group titled 2019 ATM Benchmark Market Report explores consumers’ trends in ATM use and other market developments.

“It may surprise some readers how strong the use of ATMs for cash withdrawals and other transactions activities continues to be in the face of digital payments. Consumer data supports the finding that individuals who have adopted newer payment technologies still rely on cash and ATMs for their day-to-day transactions. Despite the importance of ATMs, many financial institutions are handing over the operation of their ATM fleets to third parties to achieve reduced and more predictable maintenance expenses. As management and sometimes ownership of ATMs changes hands, the independent operators will be setting the tone and industry direction for ATMs,” comments Sarah Grotta, Director, Debit and Alternative Products Advisory Service at Mercator Advisory Group and author of the report.

This research report has 16 pages and 8 exhibits.

Companies mentioned in this report include:
 Avidia Bank, Bank of America, BMO Harris Bank, Cardtronics, Chase Bank, Fifth Third Bank, GasBuddy, McDonald’s, Payment Alliance International, PNC Bank, Salem Five Bank, and Wells Fargo Bank.

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: CashP2PVenmoZelle

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    agentic commerce

    Demystifying the Agentic Commerce Enigma

    February 11, 2026
    payment gateways

    How Payment Gateways for Businesses Can Help You Offer Your Customers More Options

    February 10, 2026
    Reserve Bank of India (RBI) Extends Mandate for Tokenization to June '22

    Late Payments? Governments Are Taking Action

    February 9, 2026
    ai phishing

    The Fraud Epidemic Is Testing the Limits of Cybersecurity

    February 6, 2026
    stablecoins b2b payments

    Stablecoins and the Future of B2B Payments: Faster, Cheaper, Better

    February 5, 2026
    Payment Facilitator

    The Payment Facilitator Model as a Growth Strategy for ISVs

    February 4, 2026
    Simplifying Payment Processing? Payment Orchestration Can Help , multi-acquiring merchants

    Multi-Acquiring Is the New Standard—Are Merchants Ready?

    February 3, 2026
    ACH Network, credit-push fraud, ACH payments growth

    What’s Driving the Rapid Growth in ACH Payments

    February 2, 2026

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result