How do apps like PayPal, Google Pay etc. earn money?
Peer to peer transactions on Google Pay transfer the complete amount to the receiver so apparently there is zero commission involved. (For example, if person A pays 100 dollars to person B through such an app, person B does receive 100 dollars exactly).
The only way to earn money i can see is advertisements, but is the ad-revenue really enough to sustain a full fledged payment service?
These apps are regularly and widely used.To clarify, i am not asking this question based on a specific app. I am looking for a more generalized answer. How is this business run exactly?
Where do they get money from?