Square's had a firm hold on hip small businesses for half a decade, I'm still not convinced they can use that as leverage to build profitable services.
https://www.zellepay.com/partners
While I think Square has some momentum, I believe the financial services industry as a whole is going to overshadow their Cash offering.
I've literally never heard of Venmo before now
I know for me personally I'm far more likely to say "you get it next time" than bill my friends for some share of an outing. If it's sufficiently expensive that this doesn't make sense I'd just split the check. If I was younger and still a student I can absolutely see the appeal though.
Err... I'm old, but we have hip and trendy tourists?
Ah well... Another anecdote for ya.
Square, meanwhile, is offering both business and peer-to-peer options.
It might be a generational thing, but it does seem like Venmo has cornered the p2p market.
Yeah, I even have a landline. I did mention I'm old. ;-)
Worst case, you'll see people using online bill pay to mail eachother's banks checks as that is free and low effort. People just don't want to pay to move money friend to friend, and the US is an anomaly with our extremely high credit card processing charges, where we're at 1.5% to 2% in interchange, the rest of the world is below 1%.