Tilt is now offering one-to-one payments in addition to its crowdfunding platform.
Tilt is launching the one-to-one payment option for international users. Making the feature available internationally would give it an advantage over Venmo, which is a peer-to-peer payment app that only operates in the US. The one-to-one payment feature makes it easy to transfer funds to contacts or groups. With 75% of Tilt users being university students or recent graduates, the peer-to-peer payment option will likely be very popular for paying for dinners easily or splitting costs for parties or vacations.
Tilt is hoping to fill the gap in peer-to-peer payment apps outside of the US by launching the feature in the UK, Canada and Australia, as well as in the US.
Personal Payment Apps
The Crowdfunding Site Tilt Now Offers One-to-One Payment Options on Its App
Trend Themes
1. International Expansion - Tilt's launch of international one-to-one payment option aims to fill the gap of peer-to-peer payment apps outside of the US, providing opportunities for global expansion.
2. Peer-to-peer Payment Popularity - The popularity of peer-to-peer payment among university students and recent graduates suggests potential for growth in user base, as well as possible integration of related services (e.g. budgeting tools).
3. Competition with Venmo - Tilt's availability of international one-to-one payments aims to give it an advantage over Venmo and disrupt the peer-to-peer payment app market, indicating potential for further innovation and differentiation.
Industry Implications
1. Fintech - As a peer-to-peer payment app, Tilt's international expansion and competition with Venmo suggests a potential for disruption in the fintech industry through innovative payment and financial services.
2. Education - Tilt's popularity among university students and recent graduates suggests opportunities for integration with education-related services (e.g. student loan payments, discounts for educational expenses).
3. Hospitality and Travel - The popularity of peer-to-peer payment for splitting costs and paying for group expenses suggests potential for integration with hospitality and travel services (e.g. payment for hotel bookings, restaurant reservations, and events).