Minneapolis-based U.S. Bank has a brand-new spot highlighting the bank’s person-to-person payment functionality in its mobile app. Some time back, it was argued that P2P payments would be the Trojan horse to put mobile payments on the radar of mainstream consumers. That hasn’t happened. Years after introducing the functionality, the big banks still will not release their P2P numbers, suggesting the amount moved in aggregate remains small.
But could the reverse of what was expected in the past happen now? Could Apple Pay raise awareness for not just mobile payments at the point of sale but P2P as well? U.S. Bank sent a press release saying it was supporting Apple Pay for its customers on Sept. 10.