ReportsnReports.com has added a new market research report, entitled “P2P: The Disruptive Potential; New tools and technologies are changing the face of domestic and international payments”, to the banking and financial services category of its library.

The report, published this month, says that cash is the biggest competitor for domestic Peer-to-Peer services. To compete with cash, P2P market tools must be as convenient and easy to use as possible. Regulation is still a major challenge for potential 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 in this space.

According to the key findings, Denmark is the only market where cash was not the most popular tool for low-value P2P transactions, with mobile apps - specifically MobilePay - being the most popular choice.

This report examines the global P2P market, taking into account the traditional tools available to consumers in domestic, social P2P payment interactions as well as international money transfers and remittances.

• It identifies key advances in P2P products over the last few years and their impact on the domestic and remittance markets.
• Considers the position of the traditional incumbents in each market and how well placed they are to avoid disruption by fintech start-ups.
• Moreover, it explores the potentially winning strategies that can be adopted by participants currently in the P2P market and those looking to enter it.

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.