Fintech and Mobile Payment Apps; P2P is Here with Convenience for Consumers and Business

By: Newsfile

Vancouver, Kelowna and Delta, British Columbia--(Newsfile Corp. - June 26, 2023) -, a leading investor news resource covering Fintech stocks releases a special news report on the mobile-to-mobile payment market featuring fintech company AppTech Payments Corp. (NASDAQ: APCX).

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Well-known peer-to-peer mobile payment apps currently include Venmo, PayPal, CashApp and Zelle. Mobile-to-mobile payments enable consumers to finalize transactions with a single tap; a convenient option for both businesses and their customers.

According to ReportLinker, "The global p2p payment market grew from $2.62 billion in 2022 to $3.04 billion in 2023 at a compound annual growth rate (CAGR) of 16.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The p2p payment market is expected to grow to $5.61 billion in 2027 at a CAGR of 16.5%." The P2P Payment Global Market Report 2023 names leaders such as: SnapCash, Square Inc., TransferWise Ltd., WePay Inc., Wise Payments Limited, and Zelle.

Fintech innovator AppTech Payments Corp. (NASDAQ: APCX) has been building an impressive list of partnerships and just recently announced it has entered into a Strategic Partnership Agreement with InstaCash, Inc. AppTech will license its patent portfolio and develop, launch, and manage InstaCash's mobile-to-mobile payment system.

From the news: InstaCash, Inc. is a peer-to-peer instant payment app similar to Venmo, Zelle, and Cash App but will offer lower transfer fees and more advanced security protocols. The payment system will facilitate business-to-business, consumer-to-business, and consumer-to-consumer or person-to-person ("P2P") transactions. AppTech will develop mobile and web-based applications for the contactless payment system, which will feature digital banking services and Visa/MasterCard sponsorship. AppTech will also provide user support services and an equity stake in InstaCash.

"This partnership is a strong validation of AppTech's specialty payments division incorporating our patented technologies into our client's vision," said Luke D'Angelo, Chief Executive Officer of AppTech. "The agreement will allow us to demonstrate the core differentiation of our Fintech platform, Commerse™. This platform is a patent-backed, modular, cloud-based solution with industry-leading security features. We look forward to working with the InstaCash team and our network of banking partners to develop and manage the platform," added Mr. D'Angelo.

AppTech Payments Corp. also recently announced it will join the Russell Microcap® Index at the conclusion of the 2023 Russell indexes annual reconstitution, effective after the US market opens on June 26.

Repay Holdings a leading provider of vertically-integrated payment solutions reported in mid-June that it is adding PayPal and Venmo to its suite of payment solutions, making them available to clients across REPAY's verticals, including personal finance, auto finance, credit unions and mortgage.

From the news: With its expansion of digital wallet capabilities, REPAY will enable clients to accept seamless payments with PayPal and Venmo, offering secure and convenient payments through a web browser or mobile app, and eliminating long payment forms. Through direct integration to the REPAY payment platform, this expansion is designed to help clients boost their overall revenue, as companies have found supporting preferred payment methods makes customers more likely to make payments on time

Square, Block, Inc. announced in late April it had launched Tap to Pay on Android for sellers across the US, Australia, Ireland, France, Spain and the United Kingdom. The new technology empowers sellers to securely accept contactless payments with a compatible Android device, and at no additional cost.

From the news: "With Tap to Pay on Android, Square is making it even easier for new sellers and established businesses to conduct in-person commerce. Using a compatible Android device, a seller simply opens the Square Point of Sale, Square Appointments, Square for Restaurants, or Square Invoices app, enters the sale, and presents their smartphone to the customer. From there, the buyer will see the total they owe along with the familiar contactless payments symbol, and can choose to complete the payment with a contactless credit or debit card, or a digital wallet such as Google Pay."

Venmo, a leader in the P2P space and a subsidiary of Paypal Holdings, announced in late April the evolution of its service into crypto saying, "We are taking steps to make the management and movement of cryptocurrencies (crypto) for Venmo customers easy by introducing the ability to transfer crypto to friends and family in the Venmo community. Customers will also be able to transfer to a PayPal account and to external wallets and exchanges, delivering more choice and flexibility in how they move and manage their crypto."

Looking at the history, an article in reports, "Acquired in 2013, PayPal has owned Venmo ever since. The company was launched in 2009 by two friends, Andrew Kortina and Iqram Magdon-Ismail; however, Venmo's ownership has shifted ever since, at least twice, to two different companies, lastly being acquired by PayPal LLC."

"Venmo is an American mobile payment app for transferring or sending money between friends and families. In 2021, Venmo processed a total of $230 billion payment and made approximately $850 million, an almost 90% increase from what it made in 2020. Venmo is currently being used by over 80 million people, most of whom are based in the United States. Although PayPal is the current owner of Venmo, it wasn't the first to acquire the mobile paying company, as Braintree first acquired it in 2012, just three years after its launching. Less than a year later, PayPal became the owner of Braintree, indirectly becoming the owner of Venmo."

Introspective Market Research says, "The high level of competitiveness in the market for peer-to-peer payment methods, along with the significant presence of service providers worldwide, creates opportunities for the introduction of new convenient services. This competitive environment encourages various players to offer a wide range of products and services to cater to the needs of a large user base. The intense competition drives contenders to vie for the top position, often resulting in acquisitions or collaborations with new rivals."

AppTech Payments Corp. (NASDAQ: APCX) is betting its strategic partnership agreement with InstaCash, Inc. is a collaboration that will be a win-win for consumers and businesses and ultimately, its shareholders.

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