In Q1 2023, a survey of nearly 5,900 U.S. consumers revealed strong preferences in P2P payment behavior. Over half of users prioritize receiving funds directly into bank accounts rather than third-party apps. Despite this, most P2P payments are made via nonbank services, with PayPal (75%), Venmo (55%), and Cash App (45%) leading usage. While 81% of banked consumers have at least one P2P account, usage patterns vary: Venmo is favored by high-income households, Apple Pay by Gen Z, and males slightly more than females adopt nonbank apps. Zelle lags in user base but rivals others in transaction share.

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