Millennials Say ‘Venmo Me’ to Fuel Mobile-Payment Surge

Millennials are chucking their checkbooks and cash. EBay’s mobile-payment tool called Venmo handled $314 million in mobile payments in the first quarter of 2014, up 62 percent from the prior quarter.

The broader mobile-wallet market was slow to catch on with a wide audience. Yet, the rising use of peer-to-peer applications among 20-somethings is improving the prospects for adoption of all kinds of smartphone-based payments.