FinTech News
Cash App Adds Ability to Request Payment Via a Custom Link
Block Inc.’s popular P2P app is introducing a new payment option.
About Cash App Payment Links
This week, Cash App introduced a new peer-to-peer payment medium. Customers can now send payment requests by generating a link in the app. The new feature serves as an alternative to existing Cash App payment methods, which include adding user via Cash Tag, email, or phone number.
To utilize this new option, users can start on the payment tab (the $ logo in the bottom center of the screen). Then, customers can enter the payment amount by tapping “Request.” Finally, after adding a payment reason, users will see the option to Share Link. These links can then be sent via SMS, email, social media messaging, or even Airdrop.
According to Cash App, when recipients get a payment link, they’ll see the recipient and owed amount prefilled along with directions for how to pay. Additionally, links can be reused, allowing customers to send requests to multiple people with a single link (or send for recurring payments).
The new payment link capability is now available for all consumer Cash App users as well as Cash App for Business customers.
What They’re Saying:
Announcing the new feature, Cash App’s P2P & Networks Product Lead Kristen Anderson said, “Payment links make moving money even more seamless, but just as importantly they make the task of requesting money feel more human and less awkward. We’ve heard from our customers that sending in-app payment requests and push notifications can sometimes come across overly formal or even passive aggressive.”
Anderson added, “Payment links solve this by allowing customers to send requests through whichever platform feels most natural so that they can add context, levity, or humor to the conversation.”
My Thoughts:
On the one hand, I appreciate this option as it removes the need to verify a friend’s phone number or email when sending money. For that reason, I like this idea and will likely use it.
As for what concerns me, seeing as P2P apps have already become a popular medium for fraud, I can imagine that the ability to send a link via direct messages and the like will only increase this problem. Perhaps there are more failsafes than I’m familiar with, but I wouldn’t be surprised if this capability becomes a scammer’s best friend.
With that in mind, always be smart before you send money to someone you don’t know. Furthermore, be viliglant with potential fake Cash App links as I could see this being an issue as well. Stay safe out there!
Author
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