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Block runs Square payment tools for sellers and Cash App for everyday people, making money from payments and financial services.
Block is two big businesses wearing one name. Square gives small merchants — coffee shops, barbers, food trucks — the card readers, cash registers, and software they need to take payments and run their day. Cash App is a consumer app where people send money to friends, get paid, spend with a debit card, and buy or sell Bitcoin.
The money comes from several places. Square earns a small cut every time a seller swipes a card, and it also sells hardware and subscription software. Cash App makes money when people use their cards, when businesses pay to accept Cash App, and from instant deposit fees and Bitcoin trades. The real engine underneath both is the same: moving money for a fee, then layering more services on top. Block's big bet is turning Cash App from a Venmo-style money-transfer tool into a full bank for people who don't use traditional banks. It offers direct deposit, personal loans, and tax filing. That push brings it into direct competition with big banks and fintech rivals, and it means more regulatory scrutiny — Cash App has faced questions from regulators over compliance.
The company is named after its founder Jack Dorsey's other obsession, but it began as Square in 2009 when he and Jim McKelvey needed a way to accept card payments for a small glass-blowing business. Today Block spends heavily on product development and has used buybacks to return cash to shareholders. The core tension: Square grows steadily but slowly, while Cash App grows fast and attracts more attention from regulators and competitors.
Saved answer · last researched 20 Oct 2026