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Stripping out the impact of bitcoin, Square said that CashApp revenues were up 174 percent year on year to $435 million. Drilling into separate offerings, the company said that Cash App revenues of $2 billion were up 574 percent year over year.
Technological advances, such as near-field communication (NFC) and contactlesspayments, have made it even easier to pay for goods and services using your credit or debit card. This is where peer-to-peer (P2P) payments come in. Many different platforms facilitate P2P payments; Paypal and CashApp are two popular examples.
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