Proof Point
36% in Bank of America survey said no amount is too low to request from others, while 29% indicated $200 is maximum they would send, using P2P technologies
Acceptable Amounts for Person-to-Person (P2P) Payment Transfers
2017 (percentage of respondents)
| Note: | Data based on Bank of America’s 2017 Trends in Consumer Mobility Report that surveyed 1,005 U.S. respondents with bank accounts and smartphones, aged 18 and above, with a 3.1 margin of error, as well as 407 panelists that use person-to-person payments services, with 4.9 margin of error |
Proof Point Findings
- Person-to-Person (P2P) Payment Technologies – Online technology that lets individuals transfer funds from one bank account to another through Internet and smartphone
- No Amount Too Low for Requests – More than one-third (36%) of respondents in Bank of America survey said no amount is too low to request from others using P2P technologies, with another 22% indicating lowest amount they would accept from P2P transfer is between $10 to $20
- Maximum $200 for Payments – 29% of participants said highest amount they would pay is $200, with 26% saying no amount is too high to send
- Key Growth Drivers– Include continuous innovation in peer-to-peer payment technologies, rapid digitization of banking services, increasing preference for cashless transactions, and heightening reliance on smartphones and mobile applications to complete tasks
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Market Disruption |
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Sector |
Financial Services
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Source |
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Date Last Updated |
April 5, 2018
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