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Square Is Building Cash App into a Standout Product

Naomi Gray
Updated
Square Is Building Cash App into a Standout Product

As Square (SQ) gears up to report its third-quarter results, the company is considering extending its Cash App service beyond its peer-to-peer payment roots by building it into a financial app for everyday use—a dream PayPal (PYPL) also has for its Venmo service. Cash App had attracted more than 7.0 million monthly users as of December 2017. In addition to supporting money transfers between family and friends, Cash App also lets users withdraw their balances from ATMs using an associated debit card known as Cash Card.

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