Block’s latest earnings show more users opting to use Cash App Cards, an on-ramp to other financial services and products. As noted in the company’s shareholder letter, 2 million actives (3% of total monthly transacting actives) were depositing their paycheck into Cash App each month, relative...
Block, which owns retail POS solution Square, money transfer service Cash App, and buy now, pay later (BNPL) firm Afterpay, is on a journey to overall profitability but has work to do. Block CFO and COO Amrita Ahuja put an upbeat spin on the company’s...
A year after closing its acquisition of Afterpay, Block (formerly Square) is seeing traction in its buy now, pay later (BNPL) business. And the Cash App mobile wallet, management said on the conference call with analysts, is helping cement Square’s ecosystem across payments and banking....
With a roster of 49 million active users and a record $52 billion of inflows — including a spike in direct deposits — Cash App is looking more and more like a major, multi-featured, traditional bank these days than the mobile peer-to-peer payments system it...
February 22, 2024
Block’s latest earnings show more users opting to use Cash App Cards, an on-ramp to other financial services and products. As noted in the company’s shareholder letter, 2 million actives (3% of total monthly transacting actives) were depositing their paycheck into Cash App each month, relative to 23 million Cash App Card monthly actives (41% of […]
June 27, 2024
One motivation for Block’s investment in bitcoin is to learn about the technology and how to use it. The company invests 10% of its gross profit from bitcoin products each month into buying more bitcoin; allocates less than 3% of its resources to bitcoin-linked projects; and holds bitcoin on its own balance sheet, Bloomberg reported […]
February 27, 2023
Block, which owns retail POS solution Square, money transfer service Cash App, and buy now, pay later (BNPL) firm Afterpay, is on a journey to overall profitability but has work...
