1/17/2024 0 Comments Afterpay app![]() Block also hopes to leverage Afterpay's existing enterprise clients and potentially convert them to Square sellers as Square aims to increase its number of mid-market and enterprise customers.Ī slide from Block's 2022 investor day presentation lays out a plan for integrating Cash App, Afterpay, and Square. Eventually, the company aims to launch Cash App internationally and scale up the app's advertising capabilities. Slides from the investor day presentation also outlined longer-term goals for Afterpay's integration into the Block ecosystem. Eisen said more than 90% of Afterpay customers make payments with debit cards, meaning Cash App could promote usage of its Cash Card, which currently has 15 million active users. There are other ways the two businesses can work together. "We think our biggest differentiator is the breadth of our ecosystem," he said. For shoppers, multiple ways to pay will give additional flexibility, while retailers will be able to take advantage of lead generation, advertising, and targeted offers to drive more demand. Grassadonia highlighted the appeal for both consumers and retailers. The rollout of Cash App Pay as an e-commerce payment tool for Afterpay sellers is currently underway, with retailers like Shein, ASOS, Dick's Sporting Goods, and ThredUp already offering the service. Grassadonia also announced the development of a single API for sellers to use at checkout that will power both Afterpay and Cash App Pay transactions. The Cash App and Afterpay integrations will extend to e-commerce checkout, where Afterpay sellers will now be able to accept Cash App Pay as a form of payment. But there's still room to grow - Afterpay currently generates over one million leads from its app and website each day. On Wednesday, Grassadonia said a lead generation feature in Cash App had found over 350,000 potential customers since its launch in December. Since February, Block's execs have been hinting at using Cash App to help Afterpay find more customers. Users will be able to review Afterpay orders, check their balance and transaction history, and make Afterpay payments directly from Cash App. Other significant developments include the addition of an Afterpay shopping and browsing feature to Cash App and the integration of Afterpay account management capabilities into Cash App. ![]() Block estimates only around 6% of current Cash App users are also Afterpay users, meaning over 75 million Cash App users are potential new Afterpay customers. The first step of the integration will allow Afterpay to immediately expand its reach by millions of users - Cash App will prequalify its 80 million active users for an Afterpay account. ![]() "Afterpay can help transform Cash App into a super app," Molnar said. Jack Dorsey later joined for a Q&A session with Nick Molnar. Part of that: prequalifying all 80 million Cash App users for Afterpay's buy now, pay later loans.Ĭash App's ambitions to become a super app and how exactly it plans to deliver on its goals became clearer on Wednesday during an investor day hosted by Block, its parent company.īlock executives as they announced plans to more fully integrate buy now, pay later provider Afterpay into the company's "ecosystem of ecosystems" and greatly expand Cash App's capabilities as it races against other payments providers to become a super app.īrian Grassadonia, Cash App's co-creator, outlined plans to greatly expand the app's shopping and discovery features alongside Afterpay cofounders and co-CEOs Nick Molnar and Anthony Eisen, as well as Square lead Alyssa Henry.Block's Cash App is integrating with Afterpay, the recently acquired the buy now, pay later service.Block executives revealed how they plan to make Cash App a super app at an investor event Wednesday. ![]() Account icon An icon in the shape of a person's head and shoulders. ![]()
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