Mobile P2P Hurtling Mainstream, Just Not Here

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12 October 2009


  • Hi Red.

    You question the business relevance of P2P payments in developed markets. I have been asking the same question. What I cannot see is across-the-board willingness for people in the U.S. to pay a fee to transfer money to someone else. I'm sure there's some amount of opportunity. But it certainly isn't going to solve an overwhelming problem like it has in places like Kenya, where prior solutions included asking a cab driver to deliver money and hoping that it will only cost you his high-percentage fee and not the full amount (if he disappears with it).

    Am I missing something? P2P is certainly starting to generate a lot of buzz in the U.S. Where are people finding the business case for this?

  • Bill,

    You're right, there is quite a bit of buzz in the U.S. lately, but no numbers (perhaps it's still too early). I'm still waiting to see if U.S. consumers would be willing to pay for this.

    While there may be some niche applications here, they will pale in comparison to domestic remittance (as you suggest) and "P2b" (person-to-small-business) transactions in developing countries.