Cash App Breaks New Ground as First to Enable Pay-Over-Time for P2P Money Transfers

New feature extends installment payments beyond merchant checkout, giving customers more flexibility when sending money to friends and family

DISTRIBUTED WORKFORCE/OAKLAND, Calif.--(BUSINESS WIRE)--Cash App announced today a first-of-its-kind feature that allows customers to convert peer-to-peer (P2P) money transfers into installment plans, becoming the first major U.S. finance app to bring pay-over-time flexibility to everyday money movement. Whether splitting utilities, covering everyday necessities, or sending money to family, customers can now spread the cost of P2P payments over time, giving them greater control over their cash flow when it matters most.

The new feature allows eligible Cash App customers to convert recent P2P payments into short-term installment plans, instantly receiving the payment amount back into their balance for a transparent upfront fee. Customers can then repay the amount in weekly installments.

“Millions of customers already use pay-over-time features within Cash App for card purchases, and this expansion builds on that existing behavior by extending a familiar experience to more transaction types within the app,” said Owen Jennings, Executive Officer and Head of Business, Block. “We’re delivering flexibility at every touchpoint where customers are sending and spending their money. We’re going to continue down this path to build products that meet our customers where they are, giving them flexible options that fit their everyday financial lives.”

Pay over time for Cash App’s P2P transfers was designed with transparency and simplicity at its core, featuring:

• A clear upfront fee with no hidden costs
• Short fixed term with no revolving balances and weekly repayment
• No compounding interest, offering predictability from day one
• Flexible repayment options: weekly payments or a single payment at the due date
• Eligibility for P2P sends of $25 or more made within the last 30 days¹

“I thought [the pay over time for P2P product] was pretty awesome. If I send some money to somebody and then I ended up needing a little bit of it back, I can pull it back and borrow it pretty easy,” said Jeremy Estes from Little Rock, AR. Jeremy uses Cash App’s P2P pay over time product for recent personal payments such as bills and unexpected expenses.

This launch builds on the success of Cash App’s retro pay-over-time product introduced one year ago for debit card purchases, and reflects the growing demand for installment options beyond traditional merchant checkout experiences.

It also underscores Cash App’s continued investment in expanding financial flexibility for its 59 million monthly transacting actives, with recent innovations like universal paylinks helping customers pay and get paid in more ways.²

About Cash App

Cash App is the money app. Banking* on Cash App is easy: customers can receive paychecks early with direct deposit, spend money where Visa is accepted with a personalized Cash App Card, and grow their money with a separate savings balance - all without hidden fees. Customers can also create a unique $Cashtag to share with anyone to get paid fast, make purchases with Cash App Pay, trade stocks and buy and sell bitcoin**. With Afterpay***, customers can also pay over time in a way that best fits their financial needs through participating merchants or directly in the app. Download Cash App for free at cash.app/download.

*Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Prepaid debit cards issued by Sutton Bank, Member FDIC. Cash App Visa® Debit Flex Cards issued by Sutton Bank, Member FDIC, and The Bancorp Bank, N.A., pursuant to a license from Visa U.S.A. Inc. See terms and conditions for the Sutton prepaid card, Sutton debit flex card, and Bancorp debit flex card. See cash.app for more details.

**Brokerage services provided by Cash App Investing LLC, member FINRA/SIPC, subsidiary of Block, Inc. Stablecoin, Bitcoin Map, and Lightning Network are not available to New York residents .Bitcoin services provided by Block, Inc. Bitcoin services are not licensable activity in all U.S. states and territories. Block, Inc. operates in New York as Block of Delaware and is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Investing and bitcoin are non-deposit, non-bank products that are not FDIC insured and involve risk, including monetary loss. Cash App Investing does not trade bitcoin and Block, Inc. is not a member of FINRA or SIPC. For additional information, see the Bitcoin and Cash App Investing disclosures.

***Afterpay is offered and managed through your Cash App account - no Afterpay account needed. Eligibility is based on several factors and is not guaranteed. Afterpay is not available in all states. Afterpay loans issued by First Electronic Bank, serviced by Square Capital, Inc. View state licenses.

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¹ This feature applies to eligible P2P sends of $25 or more made within the last 30 days. The specific amount available for conversion depends on the original transaction amount and individual customer assessment. Customer availability is dependent by state

² Block Q4’25 results