Cash App Adds 'Buy Now, Pay Later' for P2P Transfers

Cash App, owned by Block, has introduced a 'pay-over-time' feature for peer-to-peer transfers, allowing eligible users to finance everyday payments. This move expands flexible financing options into the P2P payment space, following similar trends seen with services like DoorDash partnering with Klarna. Users pay a 7.5% fee for transfers of $25 or more, with repayment options over six weeks or as a single payment. The feature aims to provide cash flow management for users with variable income streams, such as gig workers and entrepreneurs, offering financial flexibility.