P2P Payments Held to Drive Engagement at Banks

According to new research by American Banker almost two thirds of banks are in the process of implementing p2p payments; the banks not considering p2p payments are worried about cost and return on investment as it is not a top of from their customers; the research shows that while the offering might not be a revenue driver at this time it does drive engagement amongst the user base; 41 percent of banks surveyed say p2p is a tool to drive customer engagement on other digital channels and 23 percent say it is necessary to respond to competition; fintech firms PayPal and Venmo have done a lot for the p2p payments market in recent years and banks are responding but not all are convinced yet. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.