Payments Apps Reach out to Government to Help Distribute Stimulus

Square’s Cash App, PayPal’s Venmo and Zelle have all reached out to the government to lend a hand in getting stimulus funds distributed; adding fintech apps to the equation could help ensure the money reached customers in a timely manner; currently the government is using bank accounts obtained through tax returns in order to send stimulus funds; the companies would pose their own challenges in getting the funds out, PayPal and Square are trying to see what they would need to do in order to make this happen; the apps might come in handy for future payments if the crisis continues over the next few months; if the government decided to go in this direction it would lead to a big boost for the companies who would see their user numbers skyrocket. Business Insider

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