Stripe, the fast-growing payments startup that is now worth over $9 billion, is working on a new product to help it fill out some of the gaps in its product suite as it bids to become the go-to financial services partner to startups and other businesses.
Square has more ambition than to be a competitor to Venmo and Paypal. It wants to be your bank. BTW, I have a Cash App account, and I use it to budget for discretionary expenses.
“Anything you do today with a bank account, you should look to Cash App to begin to emulate more and more of that,” says Square CFO Sarah Friar.