Cash App’s parent company announces partnership with Cash Card

The Square parent company, which also houses the Cash App mobile wallet, said Wednesday that Cash Card users would be able to round up the amount of any purchase and choose to invest into a preferred stock orbitcoin. Block SQ sees the move as an attempt to make investing more approachable to its users.

For first-time investors, getting started can feel daunting and complicated, according to Ryan Budd, head of Cash App's financial services, told MarketWatch in an email. We want to make our financial products easy to use and accessible to everyone at Cash App. People can put spare change into investments by a number of other services, including Acorns. The Cash App was originally intended as a platform for users looking to send money to friends, but it has evolved into a broader hub for personal finance. The cash card allows you to purchase in-store or online items and links to a user's account. The Cash App has a stock-trading platform where people can buy fractional shares of equities orbitcoin through an interface that Block maintains, which is appealing to regular people, in part due to the emphasis on company logos rather than ticker symbols. In March, Block saw more than 15 million monthly active users of its Cash Card product. There were four million accounts traded or held stock on the Cash App platform that month. The company sees the opportunity to drive further links between the two services, despite the fact that there is likely overlap between those two services. Budd told MarketWatch that they were excited when their products can work together to deliver great value and ease for our customers. He said that the round-up feature will also be compatible with the Cash App Boost program, which lets users choose from a wide variety of rewards, such as 10% off a purchase at Domino's Pizza Inc. DPZ, Block has been looking to realize synergies between loyalty programs and buy-now pay-later purchases.