December 28, 2015
We all love Venmo as it has made our lives easier with free and instant P2P transactions. The meteoric rise of the PayPal-owned Venmo was a major breakthrough in mobile payments as its success set an example of every FinTech incumbent. Every now and then comes an app that clicks with millennial consumers and has that viral effect. FinTech incumbents are creating an enhanced mobile experience for the connected consumer of today. The mobile money market is growing at an exponential rate. Solutions are appearing in this field from not only the FinTech industry but also retail, connected devices and technology industry with Apple, Samsung and Amazon joining the fray. It is no wonder that everyone—from big players to startups—are rushing to grab a share of this market.
We looked at some of the apps in the market and picked five applications that have gained rapid consumer adoption since their launch.