Cash App Breaks New Ground as First to Enable Pay-Over-Time for P2P Money Transfers
Block, Inc. (XYZ)
Company Research
Source: Business Wire
New feature extends installment payments beyond merchant checkout, giving customers more flexibility when sending money to friends and family DISTRIBUTED WORKFORCE/OAKLAND, Calif.--(BUSINESS WIRE)--Cash App announced today a first-of-its-kind feature that allows customers to convert peer-to-peer (P2P) money transfers into installment plans, becoming the first major U.S. finance app to bring pay-over-time flexibility to everyday money movement. Whether splitting utilities, covering everyday necessities, or sending money to family, customers can now spread the cost of P2P payments over time, giving them greater control over their cash flow when it matters most.The new feature allows eligible Cash App customers to convert recent P2P payments into short-term installment plans, instantly receiving the payment amount back into their balance for a transparent upfront fee. Customers can then repay the amount in weekly installments.“Millions of customers already use pay-over-time features w
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