PayPal’s Venmo is losing favor to Square’s cryptocurrency-integrated payments application Cash, according to data collated by Japan’s Nomura Instinet and research firm Sensor Tower. Cash vs. Venmo A brief glance at various forums indicates that Cash has more than 33.5 million downloads, with 80,000 reviews on the Apple App Store and 35,000 on Google Play. Alternatively, Venmo only has 32.9 million downloads across all platforms and significantly fewer reviews. Cash also grew three times faster than Venmo in July, a month where Coinbase enjoyed similar significant growth. While PayPal maintains a strict stance on cryptocurrencies, its subsidiary Venmo made its peer-to-peer platform a priority in 2018. Now, Venmo and Cash aim to introduce new features to attract more users in a bid to leverage and monetize their increased user base. In this regard, Square has arguably beaten PayPal by integrating a “convenience-first” framework–the firm made Cash a primary feature of
Like this article? Take a second to support us on Patreon!