Long Take: Will Paypal's digital wallet beat Google Pay and Square Cash App on shopping & banking?
Good morning Fintech Architects —
As mentioned earlier this week, we are moving the deeper analysis to Wednesday (i.e., today!). For the next 2 weeks, it is open to everyone. Thereafter, the Long Take will be a premium offering.
Summary: PayPal just launched what it calls a super app. It has a cash account with a 0.40% interest rate, direct deposit, money movement, bill pay, and remittance features. It also integrates shopping functionality with rewards and cash back. In this analysis, we compare this offering with Google Pay and Square Cash App, as well as trace the DNA of PayPal to understand whether such an offering will succeed where others failed.
Tags: PayPal, Square & Cash App, Google Pay, Ant Financial, Amazon, Shopify, Venmo, Braintree, Chime
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