QoD: What's the top financial app in the App Store: Venmo, Cash App or PayPal?

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Mar 03, 2019
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Question of the Day, Checking Accounts, Research

Answer: Cash App

From App Annie (3/1/19): 

Questions:

  • Why do you think these person-to-person apps are so popular (top 3 on the list)? When do you think people find these apps most useful? 
  • Do you have any finance apps on your phone? Why or why not? 
  • What do you think are the most important criteria in choosing which finance apps to use? 

Here's the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (Motley Fool)

Square is treating the app as the hub of a larger ecosystem for consumer financial products. The company debuted a consumer-facing debit card, called Cash Card, to go along with the peer-to-peer payment app in 2017. Furthermore, CEO Jack Dorsey has said people are using the Cash App as they would a bank account -- storing money, directly depositing paychecks, spending, and withdrawing at ATMs.

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Let's teach our students to be critical thinkers when it comes to finance apps. They take on the role of app reviewers in this NGPF Project: Online Tools and Apps

 

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.