Choosing a P2P (peer-to-peer) payment service that friends and family already use is important mainly because it ensures convenience and ease of transactions. When everyone is on the same platform, there is no need for complicated account setups or transfers between different services, which leads to quicker payments and a smoother experience when sharing expenses or sending money. It minimizes the friction and potential errors associated with using multiple or incompatible P2P services. Additionally, choosing a common platform increases trust due to familiarity and recommendations from trusted contacts, reducing hesitation and enhancing security confidence. In summary, the key reasons include:
- Faster and simpler transactions with no need for cross-platform compatibility.
- Increased convenience and fewer setup hurdles.
- Enhanced trust and familiarity since friends and family are already known users of that service.
This aligns with the findings that recommendations from friends and family strongly influence P2P service adoption and usage.