Differing Models Continue to Define P2P Payments

P2P payments have become big business over the last ten years, but monetizing them remains a challenge. And fintechs like Cash App and Venmo have different avenues to monetization available to them than Zelle putting them on an uneven playing field that’s essentially left the firms pursuing different goals. Furthermore, the fintechs have greater technological capabilities and control of their services, offering them a different outlook than that of Zelle, which is at a crossroads as its stakeholders determine what they want it to be in the years to come.

In this report, Javelin Strategy & Research examines the top US P2P platforms, their business models, technical capabilities, and corporate strategies. The report also looks at proprietary survey data to better understand how consumers use P2P platforms. All of this analysis is used to consider not only the prospects of those P2P platforms, but also FIs and technology service providers taking part in the P2P ecosystem.

Key questions discussed in this report:

• What differentiates Cash App and Venmo from Zelle in terms of their P2P capabilities?
• How do Cash App, Venmo, and Zelle use their differences to grow?
• What are FIs’ P2P options and what are their positives and negatives?
• What are the monetization strategies for P2P platforms?

Companies Mentioned:

Cash App, FIS, Fiserv, Jack Henry, Venmo, Zelle