P2P Payments Held to Drive Engagement at Banks

According to new research by American Banker almost two thirds of banks are in the process of implementing p2p payments; the banks not considering p2p payments are worried about cost and return on investment as it is not a top of from their customers; the research shows that while the offering might not be a revenue driver at this time it does drive engagement amongst the user base; 41 percent of banks surveyed say p2p is a tool to drive customer engagement on other digital channels and 23 percent say it is necessary to respond to competition; fintech firms PayPal and Venmo have done a lot for the p2p payments market in recent years and banks are responding but not all are convinced yet. Source.

Todd is the Chief Product Officer of LendIt Fintech.

He is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists.

He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences.

He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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