Category
Tech
Delegated Interfaces
Trend cluster
Category
Accessible P2P
Payment
Brands are helping users send and receive money across borders amid COVID.
2.6
Trend score
Trend
What is the Accessible P2P Payment trend?
Accessible P2P Payment: As COVID-19 continues to restrict travel and in-person meetings, it has increased the need for contactless forms of payment, specifically the need for peer-to-peer payment platforms. Brands are meeting consumers' need to send and receive payment efficiently, with more of a focus on cross-border capabilities to reach family, friends, and businesses.
Insight
The consumer insight behind the Accessible P2P Payment trend
The COVID-19 pandemic and subsequent global lockdown has changed the global workforce while also accelerating the global transformation of payments. As people continue to participate in the new forms of employment–like the gig economy or freelance work–to make ends meet, they are looking to avoid in-person transactions and instead opting for contactless transactions that prioritize accessibility and ease.
Trend themes
Themes within the Accessible P2P Payment trend
Three behaviours holding the trend together01
Contactless Payments
The need for contactless forms of payment has increased amid COVID-19, accelerating the global transformation of payments.
02
Peer-to-Peer Payments
The COVID-19 pandemic has increased the demand for accessible and easy peer-to-peer payment platforms that prioritize accessibility and ease.
03
Cross-Border Payment Solutions
The focus on cross-border capabilities has increased as people continue to participate in the gig economy, freelance work, and work remotely due to COVID-19.
Industry implications
What the Accessible P2P Payment trend means for industry
Where the trend changes the playbookFor
Financial Services Industry
Financial institutions could offer increased digital and mobile options to customers for contactless payments and accessible P2P transfers.
For
Technology Industry
Technology companies can innovate and develop new platforms to meet the growing demand for contactless payments, cross-border capabilities, and P2P payments.
For
Gig Economy Industry
Platforms can offer easy and accessible payment solutions for freelancers and gig economy workers to receive payment instantly and securely worldwide.
Workshop question
How can your brand help make its services and payments more accessible?
Trend signals
Trend signals for Accessible P2P Payment
Trend score 2.6 out of 10, from popularity 45%, activity 23%, freshness 9%.
Popularity45%
Activity23%
Freshness9%
Audience
50%Men
50%Women
- Gen Alpha (not a primary audience)
- Gen Z
- Millennial
- Gen X
- Boomer
Market
North America
Europe
Asia-Pacific
Evidence
Examples of the Accessible P2P Payment trend
4 featured examples from Jan 9 to Feb 4, 2021CategoryBusiness
Accessible P2P Payments Apps
Mogo Launched a P2P Payment Solution to Easily Send and Receive Money
Fintech companies can capitalize on the growing demand for mobile P2P payment solutions by developing user-friendly platforms that offer convenient, cashless payment options.
CategoryBusiness
Accelerated Freelancer Payment Platforms
'PeachPay' Makes it Easier for Freelancers to Get Paid
PeachPay provides a disruptive innovation opportunity by allowing freelancers to receive payments faster and using multiple payment methods.
CategoryTech
Cross-Border P2P Payment Solutions
MoneyGram Enables Customers to Transfer Money Across the World
Financial service industries are embracing cross-border P2P payment solutions to improve customer convenience, increase customer retention, and tap into new markets.
CategoryTech
Accessible P2P Money Transfers Apps
Joompay Unveiled a New EU-Wide P2P Payments App
The fintech industry is a key beneficiary of the trend towards P2P payment apps like Joompay, with opportunities for local and global expansion.
