Venmo Is the #1 Most Used Mobile Payment App
4-26-2017
In one of their latest surveys, LendEDU explored what Apps mobile payment users prefer over others. The survey questioned Millennials throughout the United States and wanted to know, “Which of the following mobile payment apps do you use most often?”
Reponses Included:
- Out of the total 2,170 Millennial surveyed, 65% reportedly use a mobile payment application.
- Out of these 65% of users, a clear majority of 68% use Venmo. A much smaller number of 22.8% answered, “My bank’s mobile payment app,” while only 6.9% responded “Other.” A mere 2.3% said they use Square Cash.
- The survey’s most significant finding was that a stunning 35% of respondents claimed that they do not use a mobile payment app at all.
Read more of the LendEDU survey here.
About ETA
The Electronic Transactions Association (ETA) is the world’s leading advocacy and trade association for the payments industry. Our members span the breadth of significant payments and fintech companies, from the largest incumbent players to the emerging disruptors in the U.S. and in more than a dozen countries around the world. ETA members make commerce possible by processing approximately $56.75 trillion annually in purchases and P2P payments worldwide and deploying payments innovation to merchants and consumers.
ETAs membership spans the breadth of the payments industry to include independent sales organizations (ISOs), payments networks, financial institutions, transaction processors, mobile payments products and services, payments technologies, and software providers (ISV) and hardware suppliers. For more information, visit electran.org.