In an on-demand peer-to-peer (P2P) economy in which we are increasingly using Uber, Lyft and Airbnb, we are now accustomed to managing activities of daily life via our smartphones, with immediate results. Lessening the intermediary is becoming the norm for speed and lower fees.
While mobile banking has traditionally been centered on bill paying and transferring money, making peer-to-peer payments using apps like PayPal, Zelle and Venmo fits into this mobile, on-demand lifestyle and will more and more be part of the economy.