New survey emphasises differences in the use of P2P mobile payment apps

Tuesday 14 August 2018 11:02 CET | News

The Manifest’s new survey has revealed the use of P2P mobile payment apps, such as PayPal and Venmo, vary notably by generation.

According to the survey, 29% of millennials (18 to 34 years old) customarily use P2P mobile payment apps to pay for food and drinks, in comparison with approximately 10% of those who are older. Baby boomers (55 years and older) often use P2P mobile payment apps to pay for physical items, such as furniture and clothing. 51% of millennials regularly use P2P mobile payment apps for purchases overall, compared to 48% of Gen Xers (approximately 35 to 55 years old).

In order to discover trends amongst popular app categories including social media apps and food delivery and restaurant loyalty apps, The Manifest surveyed 511 US smartphone owners. The most recent survey focused exclusively on P2P mobile payment apps and it found that 46% of smartphone owners regularly use P2P mobile payment apps.

PayPal is the most often utilised P2P mobile payment app for nearly 75% of users surveyed. Although it is widely used, experts suggest PayPal’s popularity in a P2P payment app survey may be the result of confusion by those surveyed over what peer-to-peer means.

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Keywords: mobile payments, survey, mobile app, P2P payments
Countries: World