Market Competition - Venmo and Cash App are engaged in a high-stakes battle for peer-to-peer payment dominance [1][2] - Block's Cash App is striving to regain market share by launching new peer-to-peer features [2] - This competition sets up a direct rivalry between Venmo and Cash App in the digital payments sector [2] Venmo Performance - PayPal reported Venmo's strongest quarter in years, exceeding earnings and revenue expectations [1] - Venmo's payment volume experienced its fastest growth rate in three years [1] - Venmo's revenue growth reached a two-year high [1] - Venmo's momentum is driven by increased usage of debit cards, instant transfers, and online checkout [1] Cash App Strategy - Cash App is introducing its first major peer-to-peer feature in almost two years, allowing users to pull money for group payments even without the app [2] - This feature extends to Apple Pay and Google Pay users [2] - Block acknowledged a previous loss of focus on expanding Cash App's user base [2]

Stock Performance - Block shares are jumping 10% in premarket trading [1] Market Index Inclusion - Digital payments provider Block is preparing to join the S&P 500 Index starting Wednesday [1]