Cash App (formerly known as Square Cash) is a mobile payment service developed by Square, Inc., allowing users to transfer money to one another using a mobile phone app. As of February 18, 2018, the service recorded 7 million active users.
Square launched Square Cash in October 15, 2013.
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.
In January 2018, Cash App expanded to support bitcoin trading.
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.
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.
The Cash Card is a black, customisable 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.
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.
As of March 7, 2018, the Cash App supports ACH direct deposits.
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