The payments revolution: The growth of person-to-person and ‘Generation Y’ payments services

This paper explores the development of person-to-person payments services, the impact this will have on further payments disintermediation across the financial services industry, and outlines possible opportunities and threats for UK financial services providers. The paper focuses on the P2P payments services and providers — including the leading banks — in the USA; the onset of online and P2P payments services in the UK; and the development of dedicated payments services for children and teenagers.