Square's Cash App user base surges to a massive 24 million monthly active customers - Business Insider

This puts the size of the peer-to-peer payments platform's monthly user base close to that of both Venmo and Zelle, which are to have had 26.9 million and 35 million monthly users in the US in 2019, respectively, per eMarketer, giving Cash App a large group of users to potentially draw revenue from.

Square has managed to increase Cash App's monetization alongside its user base, likely thanks to its growing set of features and its ability to showcase them. Cash App's share of Square's gross profits has surged: It managed to boost its revenue per user, which can be a difficult task for P2P platforms.

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