marketmadhouse.com
Are Digital Wallets a Threat to Banks? - Market Mad House
The threat to banks is best shown by PayPal’s growth rate. PayPal’s mobile payment volume increased by 72% between the third quarters of 2013 and 2014, growing to $12 billion. Mobile payments now make up 20% of PayPal’s payments. Venmo, a mobile payment App offered by PayPal subsidiary Braintree, saw its payment volume grow by 50% between the third quarters of 2013 and 2014.