Cash App is a mobile payment service developed by Block, Inc. (formerly Square) that enables peer-to-peer money transfers, direct deposits, and cryptocurrency trading. Launched in 2013 and created by the team led by Jack Dorsey, Cash App has grown to over 50 million monthly active users in the US and UK. The app provides a free debit card called the Cash Card with customizable Boost discount offers at merchants. Users can buy and sell Bitcoin directly within the app, invest in stocks with as little as one dollar through fractional shares, and receive tax documents for their investments. Cash App supports direct deposit with early access, check deposits via photo, and instant transfers to linked bank accounts. The app generates revenue through optional instant transfer fees and Bitcoin trading spreads.
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