Square’s (tkr: SQ) Cash App appears to be winning the mind share battle against Venmo, the peer-to-peer (“P2P”) payments platform owned by PayPal (tkr: PYPL). We ran a Google Trends analysis on search terms “Cash App” and “Venmo” for two time periods – the past 12 months and the past 30 days – for Google searches that took place within the U.S. See our presentation at the end of this note.
Consumer interest in the two payments platforms ran neck and neck until approximately April 1st when “Cash App” search queries began to outpace “Venmo”. Cash App and Venmo experienced an upward trajectory in the number of Google searches which began during the late March early April time period. We attribute this increase to the fact that both Square and PayPal are approved vendors for facilitating paycheck relief as part of the COVID economic stimulus packages.
- Compares the search terms “Cash App” and “Venmo” at the national level;
- Breaks down the search terms by U.S. Subregion;
- Provides examples of search queries related to “Cash App” and “Venmo”.
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Click the gallery below to view the presentation or Click HERE for the PDF version.