Everybody wants people’s cash these days. Cash App is doing a pretty good job of getting it.
Block, provider of the Cash App and Square merchant payments, presents investors with a bevy of metrics each quarter. What is emerging as one of the most important is inflows into Cash App, representing money that people are moving into their digital accounts. There are a number of ways to do this, such as linking to a bank account, mobile depositing a check, bringing paper money to a place such as Walmart that partners with Cash App, or directly depositing it from a paycheck. Cash App’s inflow was a record $52 billion in the third quarter, up 19% from a year earlier.
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