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Mine is that Cash App is, it's not really a number, it's more of a data point, so I hope that's okay. Rob Rubin (05:10):. All right. Grace Broadbent (05:20):. Cash App is Gen Z's second-highest ranked bank in terms of consumer banking satisfaction scores. The only bank that ranks higher than cash app is Bank of America.

Payment apps such as PayPal, Venmo, and Cash App have had to rely on QR code payments to give customers an in-store iPhone payment option. But this method has not caught on: Only 2.4% of in-store mobile phone-based transactions were made via QR code in 2023, per Federal Reserve Bank of Atlanta survey data. By contrast, NFC-enabled app and tap-and-pay payment methods garnered a 65.1% share.

It wants to develop more adjacent services for the Cash App ecosystem, which could help it maintain its Q4 growth trajectory.

Digital natives could further dampen cash and check use. Cash usage is stronger among older generations: Those ages 55 and older used cash for 22% of payments in 2023, versus 12% for ages 25鈥�54 and 14% for ages 18鈥�24.

What this means: Supporting crypto can help Klarna become a super app. It wants to be a one-stop shop for payments and commerce and to better compete with other digital wallets like PayPal and Cash App, which both also have crypto integrations. This move may also foreshadow a larger push into crypto from payment providers as they ready for the asset class to take off under President Donald Trump.

The agency also ordered Block to pay $175 million over what it claims was a failure to protect Cash App customers from fraud. Our take: We knew the CFPB鈥檚 recent rulemaking and other initiatives would be overhauled once Trump. But it鈥檚 unclear how its new agenda will shake out鈥攁nd how many of the agency鈥檚 rules that recently went into effect, such as regulating digital wallets like banks鈥攚ill survive.

Payment networks like Zelle, Venmo, and Cash App provide real-time payment options to consumers鈥攂ut they do not settle the funds. For example, Zelle typically credits transactions instantly to payees. But the actual settlement of funds occurs instantly only via the RTP network (if the sender鈥檚 and recipient鈥檚 banks both use it). Otherwise, transactions are settled later via ACH.

The news: X (formerly Twitter) is planning its first marketing campaign since Elon Musk took over in 2022, including promoting its payment platform, X Money, which aims to challenge contenders like Venmo and Cash App. Musk鈥檚 campaign could contribute to a further resurgence of brands and advertisers.

In addition to trust issues, X Money will have to compete in a highly saturated market where consumers are already loyal to their preferred platforms, like Venmo, Zelle, and Cash App. This article is part of 蘑菇AV鈥檚 client-only subscription Briefings鈥攄aily newsletters authored by industry analysts who are experts in marketing, advertising, media, and tech trends.

And 30.9% of users will use Cash App. Our take: For X Money to take off, it will have to differentiate itself from the major P2P players.

The campaign鈥檚 associated sweepstakes encourages users to pay more frequently with PayPal

The P2P player was able to make this pivot thanks to the success of its integration in banks鈥� apps, which currently lead to 98% of its transactions

US P2P apps need to tap new uses and services to stay competitive, especially amid Zelle鈥檚 dominance. Here鈥檚 how each app sizes up and differentiates to attract younger generations.

But regardless of what happens with this lawsuit, Zelle鈥檚 continual fraud concerns may lead to longer-term reputational issues鈥攑ushing users to competitors like Cash App or Venmo. We expect the number of Zelle users to total 96.6 million in 2025, per our forecasts.

And Block has been marketing Cash App鈥檚 direct deposit features more aggressively across email, push notification, and in-app messages. Our take: Closing this trust gap will be crucial to fintechs growing these offerings and competing against traditional banks.

That鈥檚 why PayPal, Venmo, Cash App, Apple Pay, Google Pay, and Samsung Pay are quickly introducing novel features鈥攐r quickly copying ones from competitors. The pace of commerce management feature innovation is reaching a frenzy. Six months ago, we identified four emerging features that digital wallets could add to centralize purchasing within consumers鈥� wallets of choice:.

For Block, P2P payments have served as a gateway to its Cash App Card, which now counts 23 million monthly Cash App Card users. The debit card boosts user retention while delivering Block a cut of swipe fee revenues. Block continues to introduce other options鈥攊ncluding a high-yield savings account and investing tools鈥攖o entice cardholders to use Cash App as their primary bank.

Zelle also remains the largest of all P2P apps. It鈥檚 expected to account for 54.6% of total mobile P2P transaction value in 2025, compared to Venmo鈥檚 20.5% and Cash App鈥檚 10.6%, per our forecast. Its size makes its growth even more impressive given its peers have a longer runway to grow their volume. What鈥檚 holding it back? It wasn鈥檛 all bright for Zelle in 2024.

Cash App, PayPal, and Venmo let users pay in-store with QR codes, but that has not spurred widespread in-store use. Forging partnerships with mobile proximity payment leaders could help. PayPal and Venmo cardholders can now transact through Apple Pay, and Venmo cards and PayPal accounts are now supported in Google Wallet. Apple Pay leads on engagement and features鈥攂ut regulation looms.

This includes pending credit, debit, and cash transactions across Square sellers, the Cash App Card, and Afterpay from the day before Thanksgiving (November 27) through Cyber Monday (December 2). The number of transactions grew 17% YoY. Online sales value surged 21% YoY, compared with 17% for in-store shopping. The average online cart size was also twice as large as in stores.