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The article doesn't mention Square Cash at all – I'm curious to know how it compares in terms of success/market share. Personally I greatly prefer Cash. It's a
by news_to_me 9y ago
The article doesn't mention Square Cash at all – I'm curious to know how it compares in terms of success/market share.
Personally I greatly prefer Cash. It's an excellently designed app – simple, straight-to-the-point, no superfluous features. I don't really understand why people prefer Venmo.
- pm90 9y agoBecause of network effects. Venmo is easy enough to use, and most of my friends use it. In fact, I was introduced to it by a friend who doesn't work in the tech industry. You have to understand that for most people, learning a new system is a hassle that they would rather avoid. If Venmo continues to just work, I doubt people would switch to anything else for their payment/ money transfer needs.
- burkaman 9y agoVenmo came first and there is no reason to switch.
- jwong_ 9y agoCash used to offer instant automatic withdrawals to your bank. Now they delay it by a couple business days (and charge for instant), but at least it's automatic. Venmo, I have to manually withdraw every time I get money.
- vyhd 9y agoI've found that PayPal's business practices are enough reason: https://www.consumerfinance.gov/about-us/newsroom/cfpb-takes-action-against-paypal-for-illegally-signing-up-consumers-for-unwanted-online-credit/ https://www.consumerfinance.gov/about-us/newsroom/cfpb-takes...
- kerkeslager 9y agoSurely parent comment starting with "Venmo came first" indicates that they don't see PayPal and Venmo as competing in the same space.
- vyhd 9y agoPayPal owns Venmo, and Venmo's profits help sustain PayPal. PayPal's business practices have rightly come under heavy scrutiny, which means that, for quite a few people, there is a compelling "reason to switch" in spite of the fact that it "came first".
- red_phone 9y agoThe article notes that Venmo is currently operating at a loss.
- kerkeslager 9y agoAh, I wasn't aware PayPal owned Venmo.
- donretag 9y agoA friend attempted to send me money via Square Cash without asking me my preference. Square Cash can only be used at mobile app. You cannot use a website at all (at least not last year). No thank you.