Peer-to-peer electronic money transfers have rapidly become commonplace, and e-commerce transactions and one-button checkout are taking share from cash and physical card payments.
The U.S. e-commerce market has grown annually at 16% since 2001, well ahead of aggregate retail sales during the same time period.
As of the end of 2018, there were more than 80 million mobile phone peer-to-peer payment users in the United States, according to market research firm eMarketer.
PayPal Holdings (PYPL)
PayPal enables businesses and individuals to electronically transfer money and has benefited from the rapid adoption of digital payments.
- PayPal has experienced consistent, mid-teens year-over-year growth in active accounts. We are optimistic about the potential to monetize Venmo, the company’s app that provides peer-to-peer payments.
- User growth for Venmo has been strong, especially among younger users who appreciate the ability to send cash quickly between friends.