ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
ADVERTISEMENT
Home Retail and Marketing

Who’s Using P2P and Why?

March 5, 2019
Reading Time: 2 mins read

By Kate Young

If you think person-to-person payments apps belong to the realm of millennials and Generation Z, you’re only half-right.

According to a recent study by Early Warning Services, the network operator for the bank-backed P2P solution Zelle, 50 percent of first-time P2P users are aged 45 or older. The study, which surveyed more than 1,500 U.S. consumers in the fourth quarter of 2018, uncovered a growing confidence in payments solutions among the older generations. In fact, 52 percent of Generation X respondents and 46 percent of baby boomers said they “trust” P2P payments—and are interested in using available solutions.

What’s at play? When survey respondents were asked for their reasons behind trying a P2P solution, 76 percent of Gen Xers and 74 percent of boomers ranked “offered through a financial institution they trust” as a top reason.

“Consumers above the age of 45 are overcoming their skepticism of P2P,” said Ravi Loganathan, chief data officer at Early Warning. “Generation X and boomers have a high degree of trust in their financial institutions. The increase in trial can be attributed to solutions—such as Zelle—being included within the banking apps these consumers are comfortable using.”

Early Warning reports that customers at more than 5,100 financial institutions now use Zelle for P2P, either through their mobile banking app or by enrolling their debit cards in the Zelle mobile app. Approximately 79 financial institutions currently offer Zelle through their banking apps, and another 271 institutions are under contract.

Kate Young is the senior editor of ABABankMarketing.com. Email: [email protected].

ADVERTISEMENT
Tags: Mobile payments
ShareTweetPin

Related Posts

Directors Briefing: Millbury National Bank marks 200 years  of independence with CEO transition

Directors Briefing: Millbury National Bank marks 200 years of independence with CEO transition

Directors Briefing
May 14, 2025

“Millbury National has always been about serving our community, and that will never change.”

Future risk and compliance professionals may be just down the hall

Marketing mutuality

Mutual Banks
May 12, 2025

Mutuals Matter campaign seeks to educate the public about what separates mutual banks from other financial institutions.

Podcast: Accelerating banking for quick-service restaurants

Podcast: Accelerating banking for quick-service restaurants

ABA Banking Journal Podcast
May 8, 2025

As independently owned and operated small businesses, fast-food restaurant franchisees have unique business needs. They have mobile and often part-time workforces, complex inventory management and the constant challenge of managing both a small business and being the face...

ISM: Service sector expanded in February

Capital for local communities and adapting for the future

Community Banking
May 7, 2025

Three key findings from the 2024 FDIC Small Business Lending Survey

Building Brand and Design Guardrails For Your Bank

Common branding mistakes and what to do instead

Retail and Marketing
May 6, 2025

Take the time to decide and understand whom you can serve really well, then excel at that.

What’s next in the fight for financial literacy

What’s next in the fight for financial literacy

Financial Education
April 30, 2025

Teach Children to Save Day is over, but the work continues.

NEWSBYTES

CFPB withdraws proposed ban on certain contract language for financial products

May 15, 2025

Mortgage rates rise

May 15, 2025

Survey: Most Americans want high schools to offer financial education

May 15, 2025

SPONSORED CONTENT

Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

April 25, 2025
Outsourcing: Getting to Go/No-Go

Outsourcing: Getting to Go/No-Go

April 5, 2025
Six Payments Trends Driving the Future of Transactions

Six Payments Trends Driving the Future of Transactions

March 15, 2025
AI for Banks: A Starter Guide for Community and Regional Institutions

AI for Banks: A Starter Guide for Community and Regional Institutions

March 1, 2025

PODCASTS

Podcast: Accelerating banking for quick-service restaurants

May 8, 2025

How a Georgia community bank supports government-guaranteed lending nationwide

May 1, 2025

Podcast: Quantum computing’s shakeup in payments, cybersecurity

April 24, 2025
ADVERTISEMENT

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2025 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2025 American Bankers Association. All rights reserved.