Cash App
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| Developer(s) | Square, Inc. |
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| Initial release | October 15, 2013 |
| Operating system | Android, iOS |
| Available in | English, French |
| Type | Mobile payment |
| Website | cash |
Cash App (formerly known as Square Cash) is a mobile payment service developed by Square, Inc. that allows users to transfer money to one another using a mobile phone app. The service is available in the US and the UK.[1] As of March 21, 2021,[update] the service recorded 36 million active users.[2]
Contents
History
Square launched Square Cash in October 15, 2013.[3]
In March 2015, Square introduced Square Cash for businesses, which includes the ability for individuals, organizations, and business owners to use a unique username to send and receive money, known as a $cashtag.[4][5]
In January 2018, Cash App expanded to support bitcoin trading.[6][7][8]
In November 2020, Square announced it was acquiring Credit Karma Tax, a free do-it-yourself tax-filing service, for $50 million and would make it a part of its Cash App unit.[9]
Service
The service allows users to request and transfer money to another Cash account via its Cash App or email. Users can then choose to withdraw the money with its debit Visa card, called Cash Card, in ATMs or transfer it to any local bank account.[10][11][12]
The Cash Card is a black, customizable card. Users are asked to sign their name on the mobile app. The signature will then be printed into the card and sent to the user.[13]
Square Cash also introduced their unique username, known as a $cashtag. It allows users to transfer and request money from different users by entering this username.[14][15]
In 2017, the capability to buy bitcoin was added to the app, and the ability to buy stocks (dollar amounts buying fractional shares) in 2020.[16]
As of March 7, 2018, the Cash App supports ACH direct deposits.[17][18]
References
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