For now, Cash App Pay is available only in the United States. Retailers like Romwe, Savage x Fenty, SHEIN, thredUP, and Wish are expected to join in the coming months.
Great news for users of Block’s Cash App: now they can pay online not only within the Square network but also on e-commerce sites. The payment feature will expand the choice for users, making their experience easier and better. Meanwhile, for digital payments company Block, formerly known as Square, (NYSE: SQ), the move is expected to help it stand in competition with such rivals as Apple Pay which has roughly 45.4 million users in the US alone.
To allow online payments across the retail industry, Cash App has partnered with such brands as American Eagle, Aerie, Tommy Hilfiger, Finish Line, and JD Sports. To settle the payment with Cash App, users can either scan a QR code or tap Cash App Pay to be redirected to Cash App to check out. Before, users could only make payments using Cash App Pay on Square terminals or online Square merchant partners.
Arianne Parisi senior VP, chief digital officer of Finish Line, commented:
“Both Cash App and Finish Line share a commitment to putting customers first and providing them with a premier e-commerce experience. Cash App Pay will help us reach young customers looking for seamless ways to pay. At Finish Line, we see this integration as an excellent tool to have on board as we continuously evolve and expand the ways to reach Gen Z and millennial audiences.”
For now, Cash App Pay is available only in the United States. Retailers like Romwe, Savage x Fenty, SHEIN, thredUP, and Wish are expected to join in the coming months.
Notably, Cash App users have the privilege of going for offers and promotions in addition to a 10% discount that the Cash App is currently applying automatically for customers’ first purchases.
Cash App to Drive Block’s Revenue
Block, formerly Square, Inc, launched the app back in 2013 under the name of Square Cash to compete with mobile payment apps like Venmo and PayPal. Last year, the app was renamed to Cash App. Through Cash App, users can send and receive money, get a debit card and set up direct deposits. The investing feature also allows users to invest in stocks for as little as $1.
With over 80 million annual active users, Cash App is the major generator of revenue for Block. For example, for its Q1 2022 period, Block reported $1.73 billion in BTC sales through its Cash App service.
In April this year, Cash App suffered a data breach that affected 8.2 million users. The breach involved a former employee who downloaded reports from Cash App that contained some US customers’ information.
Darya is a crypto enthusiast who strongly believes in the future of blockchain. Being a hospitality professional, she is interested in finding the ways blockchain can change different industries and bring our life to a different level.
Ecosystem
Research
News Network
About