[Gigachad]

The compelling value proposition is users trust Apple a shitload more than random startups and have enough apple user friends to make it work.

The sad part is that these apps are needed at all. In Australia the government just regulated that all banks must support free and instant money transfers and that email addresses and phone numbers be supported as addresses to send to.

So if your friend wants to send you money, you type their email on any bank app and it pops up with their legal name confirming you have the right person. The money shows up instantly.

[impulser_]

They don't release Android apps, therefore you still need to use Venmo and Cash App if you want to send money to someone. So people aren't going to use this over Venmo, Cash App or PayPal.

Google Pay supports iOS which is why it used over Apple Pay in countries where iPhones aren't the dominate mobile OS.

[ethanbond]

I mean... I singlehandedly disprove your claim. I use Apple Cash very frequently, even in cases where both parties have other apps on their phones. IMO they don't need to remove Venmo or Cash App from the market in order to have a meaningful product that adds value for their customers.