My brother-in-law used to nickel and dime us for favors around the house, usually for spare change. Since he got Cash App, he doesn't even bother with change. It's whole dollars now. He hustles around the neighborhood to earn a few dollars here and there. It's funny that he also uses Cash App to pay his buddies when they help him out mowing a lawn or such.

I think perhaps going digital may increase the size of transactions too.

I think the value in all this is that there is a bridge that can quickly withdraw from banks and make money available for peer-to-peer transactions. No more runs to the ATM, writing checks, or borrowing a quick $20 to pay somebody else. There is this grey market that is out there unaccounted for in the government reports. This grey market has been made more efficient and will likely expand to such things as rummage sales and flea markets. The reality is, we no longer really need eBay to sell used items or to pay for minor services.

The really sad part is that banks have had the financial means and incentive to institute peer-to-peer payments like Cash App and Venmo. All the profits that these companies are making could have been profits for banks.

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