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Cash App
Cash App (formerly Square Cash) is a mobile payment service available in the United States and the United Kingdom that allows users to transfer money to one another (for a 1.5% fee for immediate transfer) using a mobile phone app. In September 2021, the service reported 70 million annual transacting users and US$1.8 billion in gross profit. History Cash App was launched by Block, Inc. (formerly Square, Inc. at its launch) in October 15, 2013 under the name "Square Cash". In March 2015, Square introduced Square Cash for businesses. This allowed individuals, organizations, and business owners to create a unique username to send and receive money, known as a ''$cashtag''. Since then, the $cashtag has become the most popular method for users to transfer money. In January 2018, Cash App added support for bitcoin trading. In October 2019, Cash App added support for stock trading to users in the United States. In November 2020, Square announced it was acquiring Credit Karma Tax, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Capitalization
Market capitalization, sometimes referred to as market cap, is the total value of a publicly traded company's outstanding common shares owned by stockholders. Market capitalization is equal to the market price per common share multiplied by the number of common shares outstanding. Since outstanding stock is bought and sold in public markets, capitalization could be used as an indicator of public opinion of a company's net worth and is a determining factor in some forms of stock valuation. Description Market capitalization is sometimes used to rank the size of companies. It measures only the equity component of a company's capital structure, and does not reflect management's decision as to how much debt (or leverage) is used to finance the firm. A more comprehensive measure of a firm's size is enterprise value (EV), which gives effect to outstanding debt, preferred stock, and other factors. For insurance firms, a value called the embedded value (EV) has been used. It is also ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Run
A bank run or run on the bank occurs when many clients withdraw their money from a bank, because they believe the bank may cease to function in the near future. In other words, it is when, in a fractional-reserve banking system (where banks normally only keep a small proportion of their assets as cash), numerous customers withdraw cash from deposit accounts with a financial institution at the same time because they believe that the financial institution is, or might become, insolvent; they keep the cash or transfer it into other assets, such as government bonds, precious metals or gemstones. When they transfer funds to another institution, it may be characterized as a capital flight. As a bank run progresses, it may become a self-fulfilling prophecy: as more people withdraw cash, the likelihood of default increases, triggering further withdrawals. This can destabilize the bank to the point where it runs out of cash and thus faces sudden bankruptcy. To combat a bank run, a bank ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fractional-reserve Banking
Fractional-reserve banking is the system of banking operating in almost all countries worldwide, under which banks that take deposits from the public are required to hold a proportion of their deposit liabilities in liquid assets as a reserve, and are at liberty to lend the remainder to borrowers. Bank reserves are held as cash in the bank or as balances in the bank's account at the central bank. The country's central bank determines the minimum amount that banks must hold in liquid assets, called the "reserve requirement" or "reserve ratio". Most commercial banks hold more than this minimum amount as excess reserves. Bank deposits are usually of a relatively short-term duration, and may be "at call", while loans made by banks tend to be longer-term, resulting in a risk that customers may at any time collectively wish to withdraw cash out of their accounts in excess of the bank reserves. The reserves only provide liquidity to cover withdrawals within the normal pattern. Banks a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liquidity
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Liquidity is a concept in economics involving the convertibility of assets and obligations. It can include: * Market liquidity, the ease with which an asset can be sold * Accounting liquidity, the ability to meet cash obligations when due * Liquid capital, the amount of money that a firm holds * Liquidity risk, the risk that an asset will have impaired market liquidity See also *Liquid (other) *Liquidation (other) Liquidation is the conversion of a business's assets to money in order to pay off debt. Liquidation may also refer to: * Murder * Fragmentation (music), a compositional technique * ''Liquidation'' (miniseries), a Russian television series See a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Money Creation
Money creation, or money issuance, is the process by which the money supply of a country, or of an economic or monetary region,Such as the Eurozone or ECCAS is increased. In most modern economies, money creation is controlled by the central banks. Money issued by central banks is termed base money. Central banks can increase the quantity of base money directly, by engaging in open market operations. However, the majority of the money supply is created by the commercial banking system in the form of bank deposits. Bank loans issued by commercial banks that practice fractional reserve banking expands the quantity of broad money to more than the original amount of base money issued by the central bank. Central banks monitor the amount of money in the economy by measuring monetary aggregates (termed broad money), consisting of cash and bank deposits. Money creation occurs when the quantity of monetary aggregates increase.For example, in the United States, money supply measured as M2 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Automated Teller Machine
An automated teller machine (ATM) or cash machine (in British English) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, funds transfers, balance inquiries or account information inquiries, at any time and without the need for direct interaction with bank staff. ATMs are known by a variety of names, including automatic teller machine (ATM) in the United States (sometimes redundantly as "ATM machine"). In Canada, the term ''automated banking machine'' (ABM) is also used, although ATM is also very commonly used in Canada, with many Canadian organizations using ATM over ABM. In British English, the terms ''cashpoint'', ''cash machine'' and ''hole in the wall'' are most widely used. Other terms include ''any time money'', ''cashline'', ''tyme machine'', ''cash dispenser'', ''cash corner'', ''bankomat'', or ''bancomat''. ATMs that are not operated by a financial i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Revenue
In accounting, revenue is the total amount of income generated by the sale of goods and services related to the primary operations of the business. Commercial revenue may also be referred to as sales or as turnover. Some companies receive revenue from interest, royalties, or other fees A fee is the price one pays as remuneration for rights or services. Fees usually allow for overhead (business), overhead, wages, costs, and Profit (accounting), markup. Traditionally, professionals in the United Kingdom (and previously the Repu .... This definition is based on International Accounting Standard, IAS 18. "Revenue" may refer to income in general, or it may refer to the amount, in a monetary unit, earned during a period of time, as in "Last year, Company X had revenue of $42 million". Profit (accounting), Profits or net income generally imply total revenue minus total expenses in a given period. In accountancy, accounting, in the balance statement, revenue is a subsection of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Apple App Store
The App Store is an app store platform, developed and maintained by Apple Inc., for mobile apps on its iOS and iPadOS operating systems. The store allows users to browse and download approved apps developed within Apple's iOS Software Development Kit. Apps can be downloaded on the iPhone, iPod Touch, or the iPad, and some can be transferred to the Apple Watch smartwatch or 4th-generation or newer Apple TVs as extensions of iPhone apps. The App Store was opened on July 10, 2008, with an initial 500 applications available. The number of apps peaked at around 2.2 million in 2017, but declined slightly over the next few years as Apple began a process to remove old or 32-bit apps that do not function as intended or that do not follow current app guidelines. , the store features more than 1.8 million apps. While Apple touts the role of the App Store in creating new jobs in the "app economy" and claims to have paid over $155 billion to developers, the App Store has also attracte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Google Play Store
Google Play, also known as the Google Play Store and formerly the Android Market, is a digital distribution service operated and developed by Google. It serves as the official app store for certified devices running on the Android operating system and its derivatives, as well as ChromeOS, allowing users to browse and download applications developed with the Android software development kit (SDK) and published through Google. Google Play has also served as a digital media store, offering games, music, books, movies, and television programs. Content that has been purchased on Google Play Movies & TV and Google Play Books can be accessed on a web browser and through the Android and iOS apps. Applications are available through Google Play either for free or at a cost. They can be downloaded directly on an Android device through the proprietary Google Play Store mobile app or by deploying the application to a device from the Google Play website. Applications utilizing the hardwar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zelle (payment Service)
Zelle () is a United States–based digital payments network owned by Early Warning Services, LLC, a private financial services company owned by the banks Bank of America, Truist, Capital One, JPMorgan Chase, PNC Bank, U.S. Bank, and Wells Fargo. The Zelle service enables individuals to electronically transfer money from their bank account to another registered user's bank account (within the United States) using a mobile device or the website of a participating banking institution. The Zelle instant payment service was launched in June 2017. Previously, the Zelle service was known as clearXchange, which offered payment services through member financial institutions and a website. Launched in April 2011, clearXchange was originally owned by Bank of America, JPMorgan Chase, and Wells Fargo. After Capital One and US Bank joined as partners, clearXchange was sold to Early Warning Services in January 2016. In December 2017, all clearXchange accounts for person-to-person payment se ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Google Pay (mobile App)
Google Pay (also known as GPay) is a mobile payments application developed by Google. It has been rolled out in India, Singapore, and the United States. History On November 18, 2020, Google launched a companion app in the United States. Since the launch of UPI in India, several payment apps like BHIM UPI, PhonePe, Paytm, etc have emerged and Google Pay is also one of them. The BHIM app was the first payment app introduced by the Indian government. Following that, many companies rose to prominence by launching their own UPI app with a better interface and simpler system. It functions as an expansion of the Singaporean and Indian versions of the app, the company announced the Google Wallet companion app during the 2022 Google I/O keynote, which replaced the 2018 Google Pay app while co-existing with the 2020 one after it was launched on July 18, 2022. Country availability See also Tez (software) Tez was a mobile payments service by Google, targeted at users in India, late ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
