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Social Money Transferring

The Smartphone, to Become the Primary Digital Banking Channel

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Mobile person-to-person (P2P) transfers are increasingly replacing cash and checks for informal transactions, particularly among millennials, according to the 2015 Bank of America Trends in Consumer Mobility Report. Convenient, easy-to-use mobile P2P apps such as Venmo and Google Wallet enable users to send money to each other without visiting ATMs to get cash or banks to cash checks. Read More