Block is discontinuing its Cash App P2P payments service in the UK as it shifts its focus away from global expansion.
According to a notice on its website, Jack Dorsey’s company announced that Cash App UK will cease operations in September after six years in the market. The notice states, “We do not make decisions like this lightly,” and it emphasizes that Cash App’s new strategic direction is centered primarily on the United States.
Over the past decade, Cash App has become a significant competitor in the US P2P payments space, rivaling services like PayPal’s Venmo and the bank-supported Zelle, and has amassed over 50 million monthly active users.