The common enemy is cash.”Online and mobile peer-to-peer payment systems have grown rapidly over the last few years, and analysts expect that to continue. In her report this month, she estimated that the volume of digital p2p payments will more than double by 2020, topping $316 billion. Mobile payment systems are moving beyond friends and family »In part, that’s a statement about who uses different systems, and what they are used for. Venmo and other non-bank systems are accessed about twice as often as bank systems, but for much smaller transactions, according to Aite Group. The average money transfer on a non-bank system is $135; the average for bank systems is $1,359, according to the report.

Source: Los Angeles Times March 27, 2017 12:02 UTC