Oct 18, 2022

Question of the Day: Rank order these top three finance apps from most to least popular in the App Store: Venmo, Cash App, PayPal

Gen Z uses these payment apps the most, so you might have some inside information on which is most popular. 

Answer: From data.ai (10/17/22)

 

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

Behind the numbers (Pew Research)

When asked what motivates them to use these sites or apps, users most frequently point to ease. Roughly six-in-ten Americans who have ever used PayPal, Venmo, Zelle or Cash App (61%) say a major reason for doing so is because it makes paying for things easier.

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Let's teach our students about the rise of peer to peer payment apps with the FinCap Friday: Peer-to-Peer Apps Go Head-to-Head

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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.

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