The number of mobile peer-to-peer (P2P) payment users in the United States will expand to nearly three-quarters (74.4%) of all smartphone users by 2028, according to an EMarketer forecast.

EMarketer expects the value of US mobile P2P payments to increase by 14.5% this year, hitting $1.224 trillion.

Gen Z’s adoption of mobile P2P payments in the United States will increase the fastest of any generation between now and 2028, although that growth will drop from 35.8% this year to 6.0% in 2028.

This means that the window of opportunity for marketing to Generation Z is closing, and P2P payment operators should instead focus on targeting Gen Alpha consumers, according to EMarketer’s US Mobile P2P Payments Forecast 2024.


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