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US digital commerce platforms will process $471.37 billion of their own payments by 2026. As a result, they鈥檒l enjoy stronger customer relationships, added revenues, and cross-sell synergy.

PayPal. Plaid. PR Newswire. Temenos. The PNC Financial Services Group. The Verge. The Wall Street Journal. Unit.

So far this year, 83% of US adults have been scammed or targeted by fraudsters on payment apps like Venmo, PayPal, and Zelle, per Security.org. This is a sharp increase from the 68% who said they were scammed last year and the 48% in 2022. The bigger picture: While ID verification can help protect users, it also adds friction to the payments process.

Based solely on brand trust, more Gen Zers would be likely to buy financial products and services from PayPal, Apple, and Amazon than from another traditional bank/credit union. Incumbents鈥� digital-only offshoots can鈥檛 compete with Gen Zers鈥� trust in Big Tech and retail giants.

And for reward redemption, the brand recognizes member feedback with options including cash payouts via Venmo or PayPal and gift cards from Amazon, Target, Walmart, and Visa. Consumers seek a smoother path to rewards and expanded options for redemption.

But in spring 2024, financial titans Chase and PayPal each launched one, positioning FMNs as an industry game changer. Growing demand and regulatory clarity will encourage more FMN launches this year. Advertisers will need more first-party data, thanks to ad targeting restrictions from the American Privacy Rights Act and Google鈥檚 ongoing changes to how it handles third-party cookies on Chrome.

PayPal, Revolut, and Klarna now offer marketplaces of goods or services based around payment solutions. Social apps boost shopping functions. Social commerce is a decade old, but better integration with payments and fulfillment services led to a healthy 26.3% growth rate in 2023. Services apps join the fun.

PayPal is a really good candidate. You've got buy now, pay later players who would love to be able to get in store utilizing NFC. All of these entities thereby can make money on the interchange because it'll be with their own issued cards. So don't forget that. Rob Rubin:. You know what?

Their digital fluency means they prioritize a good app experience that includes popular payment methods like Venmo, PayPal, and Apple Pay. Educate Gen Zers about the purpose of insurance. Only 26% of Gen Zers have functional knowledge about the value of insurance, per a January 2023 TIAA Institute survey.

Note: Examples of websites or apps primarily engaged in financial services include those of banks (e.g., Chase, Wells Fargo), fintechs (e.g., buy now, pay later services, insurtechs), and payment providers (e.g., Block, PayPal).

How much will PayPal see in US transaction payment value this year? A) $857.25 billion. B) $1.079 trillion. C) $1.330 trillion. D) $1.638 trillion. US PayPal transaction payment value across all lines will hit $1.079 trillion in 2024, per our March 2024 forecast. July 30, 2024.

Financial media networks in particular are becoming mainstream, thanks to new platforms by Chase and PayPal鈥攆ueling a 64.1% increase in US financial media network ad spend this year, per our June 2024 forecast. The rise of commerce media networks is changing the way advertisers approach targeting and how consumers interact with brands. Here are four predictions on these emerging trends. 1.

PayPal. Savanta. Snap Inc. Toluna. The Retail Technology Show. YouGov.

Acquirers, networks, and issuers each play distinct roles in the payments purchasing chain. But those roles are shifting as providers adapt to the rise of software and value-added services, increased payment method choice, and cloud-based innovation.

Some 48.7% of US consumers aged 18 to 34 have used PayPal and 34.5% have used Apple Pay to make a recent purchase, per our April 2024 Ecommerce Survey. This was originally featured in the Retail Daily newsletter. For more retail insights, statistics, and trends, subscribe here.

PayPal. The World Bank.

That鈥檚 why PayPal, Venmo, Cash App, Apple Pay, Google Pay, and Samsung Pay are quickly introducing novel features鈥攐r quickly copying ones from competitors. The pace of commerce management feature innovation is reaching a frenzy. Six months ago, we identified four emerging features that digital wallets could add to centralize purchasing within consumers鈥� wallets of choice:.

So I think there's issues there and ultimately how technologically savvy this company is, and that's where a Klarna or PayPal is going to do well. Rob Rubin:. How do they fill the gaps? Maria Elm:. Partnerships. Rob Rubin:. So they merge data with other providers? Maria Elm:. Yes.

Players like PayPal, Apple, and Amazon all fared better. Apple is especially well primed to win Gen Zers. It could pose a serious threat to banks at the consideration stage. Apple鈥檚 UX and brand loyalty are unparalleled, and it has been boring ever deeper into mainstream financial services for over a decade.

The news: eBay added PayPal-owned Venmo鈥檚 buy button as a payment option at checkout on eBay.com and the eBay app, per a blog post. Consumers can pay for the purchases with their Venmo balances or Venmo-linked bank accounts, debit cards, or credit cards. eBay said accepting Venmo would resonate with Gen Z and millennials. Why this matters: eBay is trying to restore goodwill among its younger shoppers.