Three-quarters of smartphone users will send mobile P2P payments by 2028

Key stat: The number of mobile peer-to-peer (P2P) payment users in the US is growing, reaching nearly three quarters (74.4%) of US smartphone users by 2028, per our forecast.

Beyond the chart:

• We forecast US mobile P2P payments value will grow 14.5%, reaching $1.224 trillion this year.
• Gen Z’s adoption of mobile P2P payments in the US will grow the fastest of any generation between now and 2028, but that growth will slow from 35.8% this year to 6.0% by 2028.
• This suggests the window of opportunity for marketing to Gen Z is closing and P2P payment providers should be focusing on attracting Gen Alpha consumers instead, according to our US Mobile P2P Payments Forecast 2024 report.

Use this chart:

• Illustrate the saturation of the US mobile P2P payment market.
• Adjust mobile P2P payment marketing strategies.

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