Born between 1981 and 2005, Millennias are the next big market, and due in part to the explosion of new communications technologies—they are the first completely digital generation, with 86% of them using smartphones as their main tool. Consequently, their habits are very different from the preceding generations, and at 80 million strong, there are more of them than even baby-boomers.

According to First Data, the figures on milliennials as a consumer class are impressive:

• 80 million millennials
• Still young (oldest millennials are 34 in 2015)
• Will reach peak earning age in 2020
• By 2025 they will generate 46% of all U.S. income
• 96% of consumers under 35 use online banking
• 38% use apps and mobile tools for bill payment
• 47% have transferred money to someone electronically
• More than 20% have never written a physical check

Read more about the Milliennial generation and mobile banking: First Data.