Eligible Cash App customers will begin to have access to Afterpay’s pay over time products when shopping online at partner merchant sites.
In recognition of this change, Cash App and Afterpay, part of Block, Inc. (NYSE: XYZ), have debuted an evolved brand, Cash App Afterpay, with a new logo for their checkout to expand “access to a pay over time experience from one of the most preferred and trusted brands in the market and connecting with hundreds of thousands of merchants.”
Nick Molnar, Global Head of Sales at Block and Co-founder of Afterpay said:
“The scale of Cash App’s 57 million monthly actives means our merchant partners benefit from a larger network of customers, and eligible customers gain greater access to simple, fair, and accessible payment options outside of traditional systems. We believe that Cash App Afterpay will not only be an accelerant to Cash App growth, but also an accelerant in the growing preference towards BNPL options in the United States.”
As Afterpay becomes more available within the Cash App ecosystem, merchant partners offering Afterpay’s Pay Over Time products can “reach the eligible customers in Cash App’s 57 million monthly actives network.”
When shopping online with participating merchants, customers can “select $Afterpay at checkout to pay over time for their purchases.”
Eligible Cash App customers new to Afterpay can now “begin using their accounts to pay over time for purchases at many merchant sites accepting $Afterpay.”
Cash App customers will also be able to “manage their pay over time transactions from merchant checkouts directly within Cash App through the applet feature”
Existing Afterpay customers can now reportedly expect to “receive the same seamless checkout experience managed through their original Afterpay account, inclusive of the new branding.”
Cash App is the money app.
Banking on Cash App is said to be easy: customers can “receive paychecks early with direct deposit, spend money where Visa is accepted with a personalized Cash App Card, and grow their money with a separate savings balance – all without hidden fees.”
Customers can also create a unique $Cashtag “to share with anyone to get paid fast, make purchases with Cash App Pay, trade stocks and buy and sell bitcoin, and pay over time with Cash App Afterpay.”
As clarified in the recent update, Cash App is “a financial services platform, not a bank.”
Banking services provided by Cash App’s bank partner(s). Prepaid debit cards issued by Sutton Bank, Member FDIC.
