"Having the two audiences - sellers and individuals - is the way we differentiate," Dorsey said.
Cash App Pay offers a service that reaches both merchants and consumers, a two-sided strategy the company hopes to expand upon by investing in product development for Cash App. Square in September introduced Cash App Pay, which allows consumers to pay with their Cash App account at checkout via a QR code or by using an on-screen button on their mobile device.
"Parents can teach kids about finance with the appropriate protections in place." "It's important as cash becomes less relevant in a digital world," Dorsey said. and giving them the tools to operate in the cashless economy," Dorsey said.Ĭustomers younger than 18 will require a parent or guardian to authorize their accounts, and the teen version of Cash will not allow bitcoin trading at launch. "By lowering the age barrier, we're expanding access to 20 million teens in the U.S. The bank-supported Zelle also requires users to be 18.īut Square would still be several months behind Apple, which began allowing Apple Card users to add family members as young as 13 to their accounts back in May. The new age range enables Square to reach a wider potential audience than that of PayPal's Venmo, which requires users to be 18.
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