Venmo is a VC-funded social media (weirdly) + money transfer app which takes a cut for doing like nothing just because you want your cash instantly. Many other countries have built-in bank-to-bank transfers with no fees or wait time & other that there’s no money to extract from this, I don’t know why it doesn’t exist in the US.

Where I live, cash is luckily still king (no one uses credit & if you do, you are (rightfully) paying the credit card fee yourself), but more vendors are starting to prefer QR code payments & this year one of the banks leading the trends eliminated their online banking forcing you to use an app or do cash.