Wealthsimple Cash makes it easy for Canadians to send and receive money at no cost, in addition to offering cash back on spending. Toronto-based Wealthsimple’s app has now reached # 1 in the Finance category of the App Store, thanks to downloads from college students across the country.
“We know Canadians are looking for a better, smoother way to send money instantly. This is especially true among students who are living away from home for the first time and are newly responsible for their own finances, â€said Sam Newman-Bremang, head of product management for Wealthsimple Cash, in an email to iPhone in Canada.
The company claims to have marketed the app on campuses across Canada, from the University of Toronto to the University of British Columbia. He said last week’s downloads and most new users came from more than 17 different universities.
Wealthsimple says it is currently hosting a $ 100,000 cash giveaway, where anyone who sends money to a friend in the app that includes the pie emoji can get a portion of the prize in cash.
“Wealthsimple Cash is our mobile app that lets you send, request and receive money from one place. Over the past few months, our team has worked hard to tour campuses and introduce students to Wealthsimple Cash, and we’re delighted to see so much interest across the country, â€Newman-Bremang added.
In essence, Wealthsimple Cash is like the Canadian version of Venmo in the US – it lets you easily send and receive money to friends, with accounts easily funded from your bank account. You also get a reloadable physical card to use in stores, and the card supports Apple Pay.
Click here to download Wealthsimple Cash and get $ 10 free to sign up.
Disclosure: Wealthsimple is an affiliate partner of iPhone in Canada and allows readers to support the site.
