Join mFoundry and Dwolla for a Webinar on Maximizing P2P
How big is the opportunity in P2P? So big that if you miss it, your customers—particularly younger, more mobile-savvy consumers—will go elsewhere.
Consider this: First Annapolis Consulting anticipates P2P payments to grow to an $80 to $120 billion market opportunity. A good percentage of that will come from your fastest growing demographics: GenXers (1965-1980) and GenYers (1980-1994).
Now also consider The Wall Street Journal’s lengthy mobile story on Tuesday, Feb. 12: “Nearly half of smartphone users who switched banks said that mobile banking was an important factor in their decision, up from 7% in 2010, according to an AlixPartners survey.”
Mobile P2P – The Next Big Thing
In fact, only 16 of the top 100 banks in the U.S. offer mobile P2P today, according to First Annapolis. But because of the proliferation of mobile devices and the rapid adoption of mobile banking, Javelin predicts the mobile channel is the next frontier for P2P payments and expects 60 million American households to be using P2P payments by 2014.
mFoundry understands this enormous opportunity. In October, mFoundry partnered with Dwolla to create a mobile P2P app that the offers low-cost money transfer services to financial institutions and their consumers. The state of Iowa also understands this opportunity and has entered a partnership with Dwolla to offer their residents a new way to pay their taxes. The solution makes perfect for both taxpayers and government: P2P is safe, secure, easy to implement and low cost.
Dwolla is a cash based payment network that allows its users to send and receive cash via their P2P payment platform. What sets Dwolla apart is its FiSync technology, which allows for real-time transfers at a fraction of the cost of its competitors. Any transactions over $10 is charged $0.25 and any transaction under $10 is free of charge.
“P2P has become a customer experience and retention play. It’s almost a must-have. This is the race we’re in. Customer expectations keep rising. [...] Not doing so is no longer an option, the cost of not doing something is greater than the cost of doing something.”
-Niti Badarinath, SVP and Head of Mobile Banking, U.S. Bank
Register for the Webinar
Learn more about Mobile P2P and how mFoundry’s Service Provider Network can help your financial institution engage consumers who live and think mobile.
On Wednesday, February 20 at 11 am PT./2 PM ET, join mFoundry’s Strategic Alliances Manager Walt Cox and Nicole Cook, Business Development Builder of Dwolla for webinar, Mobile Peer-to-Peer: The Next Big Revenue Opportunity. Nicole and Walt will discuss why mobile P2P is critical to staying relevant, growing revenue and creating customer satisfaction.
***Space is limited to the first 100 attendees for this Webinar!