Principal Product Designer, Mobile, and regular iOS dev @brave, Previously iOS, kong @path

Great question Marc. We are seeing (with services like venmo and cash) that it isn't about the transaction, it's about the experience around which those transactions happen. We are seeing people use venmo in creative ways to accomplish complex payment situations while lacking any reporting and alerts: recurring payments, collecting from many, split a bill unevenly, IOUs, simple 1099wage pay to babysitter, etc.

I don't see us competing against the specialized tool with feature depth. The analogy I like to use here is the DIY home improvement guy walks into a Hardware store and probably doesn't buy the commercial grade cordless drill, you go for just enough to get the job done, maybe even check out the 3-in-1. The power is really in the experience around simple to complex payments in one place.