Cash App (formerly Square Cash) is a mobile payment service available in the United States and the United Kingdom that allows users to transfer money to one another (for a 1.5% fee for immediate transfer) using a mobile phone app.[1] In September 2021, the service reported 70 million annual transacting users and US$1.8 billion in gross profit.[2]. at its launch) in October 15, 2013 under the name “Square Cash”.
This allowed individuals, organizations, and business owners to create a unique username to send and receive money, known as a $cashtag. Since then, the $cashtag has become the most popular method for users to transfer money.[3][4]
In October 2019, Cash App added support for stock trading to users in the United States.[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]