Visa and Mastercard Back Moov's P2P Payment Tool
Moov Money lets users send payments via debit card without app sharing.
In brief
Moov Money lets users send payments via debit card without app sharing. Moov Money uses debit cards for P2P payments, avoiding app dependency. Originally reported by Pymnts.
Moov Money Launch
Moov announced Moov Money, a real-time P2P payment solution using debit cards and mobile connections.
“Unlike other P2P services that depend on both parties participating in the same app or solution, Moov Money uses the debit card as the payment destination.”
Debit Card Reach
90.5% of U.S. consumers carry a debit card, enabling broad payment access without app downloads.
P2P Limitations
Current P2P providers reach fewer than 34.6% of U.S. consumers, limiting their market share.
Gen Z Debit Trends
70% of Gen Z plan to use debit for holiday purchases, with 42% using it at grocery stores.
Moov's Advantage
Moov Money breaks app dependency, letting anyone with a debit card securely send and receive payments.
“Moving money shouldn't depend on whether two people use the same app.”
The essence
Moov Money uses debit cards for P2P payments, avoiding app dependency.
