PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Square Reports 7 Million P2P Users

By Sarah Grotta
February 28, 2018
in Analysts Coverage
0
3
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Ability to Repay for Payday Loans: Damned If You Do, Damned If You Do Not

Square announced quarterly earnings yesterday and as a part of that announcement, shed some light on the growth of their P2P application, Square Cash.  As Digital Transactions explains:

Square Inc. on Tuesday pulled back the curtain, at least a little bit, on its Cash App and the related Cash Card, a Visa-branded debit card. The app has 7 million active users, and cardholders spent $90 million using the card in December, good for annualized volume of $1 billion, Square’s top executives told analysts.

The San Francisco-based merchant processor and payment-services provider launched the Cash Card last June, about four years after the Square Cash App debuted as a person-to-person payments service. The company generated enormous publicity last month when it enabled customers to buy and sell Bitcoin using the app.

Square Cash is not strictly a P2P app, it is also a prepaid account with a Visa card attached. The ability to use a P2P app for making purchases is also available through Venmo and other market available solutions.  This is blurring the lines between P2P transfers and payments.  Consumers still have the opportunity to move cash they receive from other individuals with a Square Cash app into their checking account, or they can store those funds and then use the Visa card to make purchases at any merchant, including Square merchants. Square makes money on their app by charging a fee for a fast transfer of funds to a user’s account and Square will receive revenue every time the card is used, earning the most when it is used at a Square merchant.  Oh yes, users can also buy Bitcoin, which Square admits is not a feature that will produce material earnings.

Overview by Sarah Grotta, Director, Debit and Alternative Products Advisory Service at Mercator Advisory Group

Read the quoted story here

3
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: P2PSquare

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    supply chain payments

    The Payment Process: The Supply Chain’s Most Overlooked Cyber Risk

    July 17, 2025
    Navigating Global Fintech Regulations Through Strategic Regulatory Arbitrage

    Navigating Global Fintech Regulations Through Strategic Regulatory Arbitrage

    July 16, 2025
    AI Is Turning Accounts Receivable Into a Strategic Powerhouse

    AI Is Turning Accounts Receivable Into a Strategic Powerhouse

    July 15, 2025
    Embedded Finance

    Embedded Finance: Bringing Payments Under a Single Umbrella

    July 14, 2025
    Making Real-Time Payments a Reality

    Fulfilling the Promise: Making Real-Time Payments a Reality

    July 10, 2025
    mortgage

    The Rich Benefits of In-House Payment Systems

    July 9, 2025
    digital cards

    Beyond Plastic: Why Digital Cards Are the Future

    July 8, 2025
    What Premium Card Overhauls by Chase and Amex Reveal About the Credit Card Market

    What Premium Card Overhauls by Chase and Amex Reveal About the Credit Card Market

    July 7, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result