Peer-to-peer payment networks are having an extended moment. About <a href="https://www.statista.com/statistics/946109/digital-banking-users-usa/">65 percent</a> of Americans are expected to bank online in 2022. Cash and credit card use has been in decline for years and the pandemic accelerated people’s move to contactless payments. There are also 63 million Americans whose only financial options are money transfer apps. People use Cash App as their primary bank account, and in some cases as their only bank account.

Peer-To-Peer Money Transfer

Cash App didn’t invent #CashAppFriday. Cash App’s genius was to get on the trend. #CashAppFridays mark giveaways to people who tweet at it. Cash App figured out that: a) people use financial apps their friends are using, so creating social engagement is critical for growth; and b) the fastest way to social influence is to piggyback on the already existing social influence and amplify it through a go-to-market strategy that emphasizes social activity among Cash App’s initial following.

Cash App Lessons: Community

Cash App collaborated with everyone from Travis Scott to Red Bull to Cardi B to Meghan Tee Stallion and Miley Cyrus. These collaborations include cash and stock giveaways, tutorials and Cash App financial wisdom. Through linking itself with celebrities, Cash App embedded itself not only in communities of its users and fans, but also in the wider culture. Collaborations extend to charitable causes, like matching donations and emerging artist promotions.

Cash App Lessons: Collaboration

Cash App curates its brand narrative around the hustle ethos, hip hop aesthetics, and voices of those who have often been traditionally excluded from the establishment but who are in charge of cultural innovation. Cash App started with empathy for a particular group of people and their particular interests, tastes and values. The outcome is that Cash App’s users feel like there’s nothing out there that’s like it - and that they are creating culture together with the app and all others who use it. The commercial activity becomes cultural activity.

Cash App Lessons: Curation

Over time, Cash App created recurring content streams, delivered in Gen Z-meets-hip hop aesthetics and revolving around democratization of investing and improving financial literacy. “Cash App Wisdom” is a series of explainers focused on everything from the basics of stock investing to account protection. Various money lessons are regularly delivered by Meghan Thee Stallion. A Red Bull Racing content partnership brings one up to speed on everything crypto. Content creates a massive following and differentiates Cash App from other financial applications