Tag: digital payments

Nearly Half of Americans Ages 45+ Trust P2P

“Early Warning Services, LLC, the network operator behind Zelle, today released the results of its second Digital Payments Adoption Study. It found that 50% of first time P2P users are aged 45 and older. Not just for younger generations, older generations are trialing P2P because of growing confidence and trust in digital payments.”

Most Millennials Make Payments Via Smartphone, but Fewer Track That Spending

A new report, released by the TIAA Institute and the Global Financial Literacy Excellence Center (GFLEC) at the George Washington University School of Business, found there is a financial literacy gap among millennials. The report also found that while most millennials use their smartphones to manage their personal finances, financial technology (fin-tech) does not necessarily improve their personal finance management practices.

Majority of Americans Foresee Smartphone Payments Replacing Cash, Cards

The majority of Americans (over six in ten) believe smartphone payments will eventually replace both payment card (66%) and cash (61%) transactions for a majority of purchases, signifying a fundamental shift in how Americans are likely to pay for goods and services in the years to come. A combined 13% of Americans indicate that they have either paid with smartphones themselves (4%) or witnessed it firsthand (8%), with predictably stronger experience levels among smartphone owners.