Cash App was a big growth driver last year for Block Inc. and is expected to remain so as 2025 unfolds, the company said during a conference call late Thursday to discuss Block’s fourth-quarter results. Block is the parent company of the Square and Cash App businesses.
During the last quarter of 2024, monthly active users of the Cash App card reached 25 million, up from 23 million for the year-ago quarter. Overall, the card reached 57 million users, up from 56 million for the year-ago quarter. Cash App Borrow, a feature within Cash App that allows eligible users to access small, short-term loans, reached 5 million monthly active users by the end of 2024.
Active monthly users for Cash App Pay, which allows users to pay with their Cash App balance or a linked debit card, totaled 6 million. Monthly active users making deposits into their Cash App account totaled 2.5 million, a 25% from increase from the same period a year ago.