A new study of payment habits during the pandemic reveals a surprising trend: Even as lockdowns forced businesses to shut and consumers to stay home, use of peer-to-peer payment apps like Venmo has surged.
According to findings by Apptopia, which studies app usage, the use of the most popular money transfer apps has risen by nearly 11% since March 1.
According to Adam Blacker, a VP at Apptopia, the number of U.S. downloads for Venmo grew 16.5% and those for Square’s Cash App grew 20.1% from April to May. Meanwhile, PayPal downloads soared 32.3% during this period.
Read more Source: fortune.com