Passing along the 7th volume of our work on mobile payments. Please let us know if you have any questions.
Open Report:Bespoke – Mobile Payments Vol 7
Key Takeaways:
- Respondents who use mobile payments apps are more likely to be “underbanked” relative to those who do not use mobile payments apps.
- Mobile payments are viewed as the most significant popularity gainer (more than credit cards and cash). Cash is viewed as a popularity loser.
- Usage of instant deposit/instant transfer lightened a touch q/q and awareness that there is a fee associated with instant deposit with some providers also declined.
- Mobile payments app users are less likely to use credit cards when they buy things from websites, food delivery apps, and ride sharing apps compared to non-mobile payment apps users.
- Venmo users have been increasingly likely to say it is important to them that there is a social media element to their use of the platform.
- Venmo users have been less likely to also be users of Zelle in recent quarters.
Key Charts:
