The P2P payment market was valued at $2.85 billion in 2024 and is estimated to reach $14.50 billion by 2034, exhibiting a CAGR of 17.3% from 2025 to 2034.
P2P payments allow users to send money directly from one person's account to another person's account without going through a traditional banking institution. These payments are typically facilitated through digital platforms, mobile apps, or online services. Unlike traditional bank transfers, P2P payments bypass the need for a bank or financial institution to handle the transaction. P2P payments offer a fast and convenient way to transfer money, often requiring just an internet connection and a smartphone. PayPal and Zelle are popular platforms that facilitate P2P payments. In a P2P transaction, both parties use a platform that facilitates these payments. The funds can be transferred directly between bank accounts, credit and debit cards, or stored in an online wallet.
Factors such as the increase in smartphone penetration and internet connectivity along with the growth in consumer preference for digital payments positively impact the growth of the market. In addition, government initiatives and support in promoting cashless economies and enhancing digital infrastructure are expected to fuel the growth of the market during the forecast period. Furthermore, surge in the integration of P2P payments with IoT devices, such as wearable technology and smart home systems, enables seamless and instant transactions, is expected to provide lucrative growth opportunities for the market during the forecast period. Moreover, advancements in blockchain technology and the rise in the adoption of secure payment protocols are further creating favorable environments for the growth of the market.
Moreover, P2P payments provide consumers with the convenience of instant fund transfers, eliminating the need for cash or bank visits and catering to those who prioritize quick transactions, which positively impacts the growth of the market. However, the growth of the market is expected to be hindered by security concerns and the risk of fraud associated with P2P payments. In addition, the regulatory challenges and compliance requirements pose significant obstacles that may slow down market expansion. Conversely, the expansion of P2P payments into new use cases presents numerous opportunities for market growth. Consumers are increasingly using P2P payment platforms for activities such as splitting bills, making rent payments, and facilitating micro-payments for freelancers or content creators. In addition, the adoption of P2P payments for cross-border remittances and international money transfers, often with lower fees compared to traditional methods, is further broadening the market’s reach and appeal.
The P2P payment market is segmented into transaction mode, payment type, end-user, and region. On the basis of transaction mode, the market is classified into mobile web payments, near field communication, SMS/direct carrier billing, and others. By payment type, the market is divided into remote and proximity. As per end-user, the market is bifurcated into personal and business. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key market players operating in the P2P payment market are PayPal Holdings, Inc., Google LLC, Apple Inc., Payoneer Inc., Block, Inc., National Association and Bremer Insurance Agencies, Inc., ONE97 COMMUNICATIONS LIMITED, PAYTM), N26 Bank SE, Circle Internet Financial, LLC, Wise plc, Samsung Electronics Co., Ltd., Remitly, Inc., Skrill (Paysafe Holdings UK Limited), NetSpend Corporation, Vodafone Group Plc., Chime Financial, Inc., Early Warning Services, LLC, Tencent Holdings Limited, Alipay, and Paysend.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the p2p payment market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global p2p payment market trends, key players, market segments, application areas, and market growth strategies.
P2P payments allow users to send money directly from one person's account to another person's account without going through a traditional banking institution. These payments are typically facilitated through digital platforms, mobile apps, or online services. Unlike traditional bank transfers, P2P payments bypass the need for a bank or financial institution to handle the transaction. P2P payments offer a fast and convenient way to transfer money, often requiring just an internet connection and a smartphone. PayPal and Zelle are popular platforms that facilitate P2P payments. In a P2P transaction, both parties use a platform that facilitates these payments. The funds can be transferred directly between bank accounts, credit and debit cards, or stored in an online wallet.
Factors such as the increase in smartphone penetration and internet connectivity along with the growth in consumer preference for digital payments positively impact the growth of the market. In addition, government initiatives and support in promoting cashless economies and enhancing digital infrastructure are expected to fuel the growth of the market during the forecast period. Furthermore, surge in the integration of P2P payments with IoT devices, such as wearable technology and smart home systems, enables seamless and instant transactions, is expected to provide lucrative growth opportunities for the market during the forecast period. Moreover, advancements in blockchain technology and the rise in the adoption of secure payment protocols are further creating favorable environments for the growth of the market.
Moreover, P2P payments provide consumers with the convenience of instant fund transfers, eliminating the need for cash or bank visits and catering to those who prioritize quick transactions, which positively impacts the growth of the market. However, the growth of the market is expected to be hindered by security concerns and the risk of fraud associated with P2P payments. In addition, the regulatory challenges and compliance requirements pose significant obstacles that may slow down market expansion. Conversely, the expansion of P2P payments into new use cases presents numerous opportunities for market growth. Consumers are increasingly using P2P payment platforms for activities such as splitting bills, making rent payments, and facilitating micro-payments for freelancers or content creators. In addition, the adoption of P2P payments for cross-border remittances and international money transfers, often with lower fees compared to traditional methods, is further broadening the market’s reach and appeal.
The P2P payment market is segmented into transaction mode, payment type, end-user, and region. On the basis of transaction mode, the market is classified into mobile web payments, near field communication, SMS/direct carrier billing, and others. By payment type, the market is divided into remote and proximity. As per end-user, the market is bifurcated into personal and business. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key market players operating in the P2P payment market are PayPal Holdings, Inc., Google LLC, Apple Inc., Payoneer Inc., Block, Inc., National Association and Bremer Insurance Agencies, Inc., ONE97 COMMUNICATIONS LIMITED, PAYTM), N26 Bank SE, Circle Internet Financial, LLC, Wise plc, Samsung Electronics Co., Ltd., Remitly, Inc., Skrill (Paysafe Holdings UK Limited), NetSpend Corporation, Vodafone Group Plc., Chime Financial, Inc., Early Warning Services, LLC, Tencent Holdings Limited, Alipay, and Paysend.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the p2p payment market analysis from 2024 to 2034 to identify the prevailing p2p payment market opportunities.The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the p2p payment market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global p2p payment market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Transaction Mode
- Mobile Web Payments
- Near Field Communication
- SMS/Direct Carrier Billing
- Others
By Payment Type
- Remote
- Proximity
By End User
- Personal
- Business
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Apple Inc.
- Payoneer Inc.
- National Association and Bremer Insurance Agencies, Inc.
- ONE97 COMMUNICATIONS LIMITED (PAYTM)
- Circle Internet Financial, LLC
- Wise plc
- Remitly, Inc.
- NetSpend Corporation
- Vodafone Group Plc.
- Early Warning Services, LLC
- Paysend plc
- N26 Bank SE
- PayPal Holdings, Inc.
- Block, Inc.
- N26 Bank SE
- Samsung Electronics Co., Ltd.
- Skrill (Paysafe Holdings UK Limited)
- Chime Financial, Inc.
- Alipay
- Tencent Holdings Limited
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: P2P PAYMENT MARKET, BY TRANSACTION MODE
CHAPTER 5: P2P PAYMENT MARKET, BY PAYMENT TYPE
CHAPTER 6: P2P PAYMENT MARKET, BY END USER
CHAPTER 7: P2P PAYMENT MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
- Apple Inc.
- Payoneer Inc.
- National Association and Bremer Insurance Agencies, Inc.
- ONE97 COMMUNICATIONS LIMITED (PAYTM)
- Circle Internet Financial, LLC
- Wise plc
- Remitly, Inc.
- NetSpend Corporation
- Vodafone Group Plc.
- Early Warning Services, LLC
- Paysend plc
- N26 Bank SE
- PayPal Holdings, Inc.
- Block, Inc.
- N26 Bank SE
- Samsung Electronics Co., Ltd.
- Skrill (Paysafe Holdings UK Limited)
- Chime Financial, Inc.
- Alipay
- Tencent Holdings Limited
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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