Discover and read the best of Twitter Threads about #CashAppFridays
Most recents (2)
1/ Cash App overtook Venmo by embedding itself in culture and by targeting *all* of America, not just NYC, SF, and LA.
Over 200 hip-hop artists have name-dropped Cash App in their songs—the app has captured the zeitgeist in a way that Venmo hasn't been able to.
👇👇👇👇👇👇
Over 200 hip-hop artists have name-dropped Cash App in their songs—the app has captured the zeitgeist in a way that Venmo hasn't been able to.
👇👇👇👇👇👇
2/ Venmo had the headstart, founded in 2009 to Cash App's 2013.
The founders wanted to pay each other for a weekend trip without writing a check, and figured they should be able to use SMS
It was a similar insight to the one PayPal had a decade earlier with payments over email.
The founders wanted to pay each other for a weekend trip without writing a check, and figured they should be able to use SMS
It was a similar insight to the one PayPal had a decade earlier with payments over email.
3/ Cash App was created by Square in 2013 and operates like a startup inside Square.
While Venmo took off in big cities like NYC and LA, Cash App focused on the South.
Payment network effects are often hyper local: you sign up for the app that your friends are using.
While Venmo took off in big cities like NYC and LA, Cash App focused on the South.
Payment network effects are often hyper local: you sign up for the app that your friends are using.
Square is starting to integrate @CashApp into its loyalty program
As captured by @caseymeekMD (below), points and rewards will be accessible via Cash App
Seems pretty straight forward
But could have big implications for customer acquisition in both ecosystems
Short thread ⬇️
As captured by @caseymeekMD (below), points and rewards will be accessible via Cash App
Seems pretty straight forward
But could have big implications for customer acquisition in both ecosystems
Short thread ⬇️
There likely is low geographic overlap between Cash App users and SQ POS merchants
Therefore, loyalty via Cash App could drive
1 Cash App adoption in SQ merchant regions
2 SQ merchant adoption in Cash App regions
See chart below (using Google Trends and US Census data as proxy)
Therefore, loyalty via Cash App could drive
1 Cash App adoption in SQ merchant regions
2 SQ merchant adoption in Cash App regions
See chart below (using Google Trends and US Census data as proxy)
On left map: Establishments ≠ firms. Firms consist of one or more establishments (e.g. chain locations). Square primarily sells to SMBs (using <20 employees as threshold). Square penetration should be high in states where share of <20 employee establishments is high.
