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The Year Ahead

Startups From Chime to Robinhood Race to Build a Money Super App

For decades, Wall Street has failed to create a financial supermarket. Can fintech find the one app to rule them all?
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Space on your phone’s home screen may be the most coveted virtual real estate on Earth, especially for companies that want a piece of your financial life. One way to claim it is to build a single app that handles most of your everyday transactions, including shopping, saving, and sending money. Below is a look at services that selected apps are offering, plan to offer, or are said to be exploring. The adoption of super apps is set to grow and will likely consolidate around fewer players. Peer-to-peer payment platforms PayPal and Venmo (both owned by PayPal Inc.) and Block Inc.’s Cash App have gone a long way toward building one big app. But banking and investing apps are rolling out features, too, and even buy now, pay later (BNPL) businesses want to move beyond extending short-term installment loans to shoppers. —Julie Chariell, a senior analyst for Bloomberg Intelligence

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