Global Peer-to-Peer Market (P2P): Leveraging Technology in P2P Products and Tools Analyzed in New Research Report

Mar 14, 2016, 06:00 ET from ReportsnReports

PUNE, India, March 14, 2016 /PRNewswire/ -- adds P2P: The Disruptive Potential; New tools and technologies are changing the face of domestic and international payments market research report published in March 2016 to the banking and financial services category of its library.

Complete report on P2P market spread across 31 pages, mentioning 25 companies and supported with 9 figures is now available at .

According to this 2016 P2P market report, cash is ultimately the biggest competitor for domestic P2P services. To compete with cash, Peer-to-Peer market tools must be as convenient and easy to use as possible. Regulation remains a huge challenge for would-be remittance disruptors and new technologies can challenge remittance incumbents, but only at the fringes. It will be difficult for challengers to build scale to take the place of the big players.

Covered under the key trends and best practices of peer-to-peer market in this research are points like domestic P2P providers are focusing on convenient user experiences. Danske Bank's MobilePay is the P2P method of choice in Denmark. Bank transfers are increasingly being used to power new peer-to-peer market services and domestic remote P2P tools are increasingly focused on social media channels. Social media firms such as Facebook are creating their own peer-to-peer market services as PayPal.Me integrates P2P directly into social communication channels. Large, trusted third-party brands can leverage their existing scale effectively while players without large systems already in place will struggle to build from scratch. Money agents such as Western Union are the biggest remittance players and these large firms are threatened by disruption at the fringes, due to their high fees. Cash-in, cash-out transfers are a key advantage for money transfer agents with traditional P2P methods such as Hawala remains common in many markets and Hawala networks will remain a competitive threat. Newer remote players use technology and marketing to undercut the incumbents. Bitcoin and blockchain technology enable cheap transfers due to low costs and TransferWise uses software to reduce costs on international bank transfers.

Order a copy of P2P: The Disruptive Potential; New tools and technologies are changing the face of domestic and international payments market research report at .

Companies mentioned in this peer-to-peer market 2016 report include Mobino, Yandex, PayPal, Danske Bank, TransferWise, CurrencyFair, Valuto, Dwolla, ClearXChange, Chase Bank, Citibank, HSBC, Wells Fargo, VocaLink, The Clearing House, Facebook, Google, SEQR, Western Union, MoneyGram, Dahabshiil, BitPesa, Safaricom, Ripple and Earthport.

This report examines the global P2P market, considering the traditional tools available to consumers in domestic, social P2P payment interactions as well as international money transfers and remittances. The domestic and remittance markets are considered separately in this brief as there are still large differences between the demands of each market and, as a result, the best strategies to adopt in each. Analyzes the major tools in use in domestic P2P and the reasons why these tools are popular. It identifies key advances in P2P products over the last few years and their impact on the domestic and remittance markets. The research considers the position of the traditional incumbents in each market and how well placed they are to avoid disruption by fintech start-ups. It helps explore the potentially winning strategies that can be adopted by players currently in the P2P market and players looking to enter it.

Another and related research titled P2P Lending: Responding to Disruption is a comprehensive analysis of the rise of Peer-to-Peer consumer lending and its impact upon retail banks' borrowers. The report details the impact of P2P lenders upon banks' deposit bases. The report shows the growth of P2P lending platforms across the globe and highlights which markets are most at risk from disruption. Readers will gain a thorough understanding of the development and evolution of P2P consumer lending over the last decade. In addition, the report focuses on how P2P lending works and how this contributes to the platform's competitive advantage. Lastly the report recommends improvements banks should make to their own business, in addition to highlighting their own strengths in relation to customer lending and how these can be leveraged to compete with P2P lending platforms. Prosper, Lending Club, Zopa, RateSetter, Kiva, Banc Alliance, Citi, Giff Gaff and Metro Bank are the companies mentioned in this research available at .

Explore more reports on banking and financial services market at .

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