Name: This Is the Most Popular Peer-to-Peer Payment App
Uploaded: 2016-04-29
Duration: 1 min 10 s
Description: It's making checks seem obsolete.

[ MUSIC ] Peer to peer payments are a way to send money from your debit account to another person's debit account. One of the easiest ways to use peer to peer payments is actually through your phone. And so there are a lot of apps that now have come out, that allow you to just easily enter someone's email. Enter the amount, you enter your debit card information, and you click a button and then you don't have to worry about the payment. The most popular app in the peer- to- peer payment space is Venmo which is owned by PayPal which is basically allows you to send money from your debit account to anyone else debit account. These are apps that are enormously popular because they're replacing checks. Larger financial institutions like MasterCard and Visa Start to offer their own peer- to- peer opinion apps, because they just know that's the way to bring in users and increase their brand values. Eventually financial institutions are going to want to make money off of it, and the best way to do that is targeting businesses, not necessarily consumers.