SQ is a leading e-commerce company. It provides business management tools for businesses ranging from retailers to service providers, and restaurants are actually the biggest part of the company’s current repertoire.
Recently, Square introduced Cash App. This simple app allows users to make peer-to-peer money transfers in a way that rivals PayPal’s flagship platform as well as PayPal’s Venmo, although the tool is much more. It also boasts checking account-like features (like direct deposit), links to a debit card, and even facilitates stock trading and the conversion of bitcoin into dollars (and vice versa). Although it only has about half the number of users Venmo currently does, given its trajectory, RBC Capital analyst Daniel Perlin says he believes Square’s Cash App will be a bigger sales and profit engine than Venmo by 2020.