Question: What percent of Gen Z (14-21 year olds) have a payment app on their phone?

Dec 05, 2017
Checking Accounts, Question of the Day

Answer: 48%

Continuing on the theme of Gen Z financial behaviors, we found the answer to this question from the research firm, The Center for Generational Kinetics.

Here were some additional interesting findings about their relationships with banks:

Banks may be one of the major legacy institutions that will have to adapt in order to best fit Gen Z. The good news is that Gen Z is showing that they are taking responsibility for their financial situation, or they are at least aware that money and banking go together. In the national study, we found that a significant 21% of Gen Z had a savings account before the age of 10!


  • Do you have a payment app on your phone?
    • If so, which one? When do you use it?
    • If not, do you plan to get one in the future?
  • What are the key factors to consider when selecting a payment app?
  • Do you think payment apps can replace checking accounts? Why or why not?

Here are the ready-to-use Question of the Day slides for this question


If you liked this question, here are a few NGPF resources that are natural extensions:

  • The reason a question like this is so important is that is shows how we as educators need to meet students where they are and the need for us to understand how fast new apps are making their way into the mainstream. We develop content to keep abreast of these changes. Here is one example. Get your students to become reviewers of the latest popular apps using this NGPF Project: Online Tools and Apps

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.