Cash App Debuts Payment Links to Make P2P Less Formal

Cash App introduced a peer-to-peer payment feature designed to simplify money requests.

The company’s new payment links service lets customers generate shareable Cash App payment request links that can be sent via text, email, social media and messaging apps, according to a Wednesday (Feb. 11) press release emailed to PYMNTS.

“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,” Kristen Anderson, P2P and networks product lead at Cash App, said in the release. “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. 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.”

According to the release, 53% of Generation Z respondents sent a reminder text before they sent a payment request, and 49% sent a follow-up message.

“Payment links remove extra steps from the process by allowing customers to share payment requests in the spaces where they’re already interacting with friends and family, like texts and DMs,” the release said.

The PYMNTS Intelligence report “How the World Does Digital: A Global Benchmark of Consumer Digital Transformation” revealed the popularity of peer-to-peer (P2P) payments using a digital wallet in countries like the United States (70%), Germany (73%) and Japan (67%).

In the U.S., these transfers have overtaken traditional bank transfers as consumers seek “convenience-driven, app-based transfers,” PYMNTS reported in May.

By the end of 2024, 55% of consumers worldwide said they were using a mobile device for a P2P transaction, an increase from 52% in 2022.

“Despite the strength in P2P, the U.S. is behind several other countries in adopting mobile payments for in-store transactions, with only 17% of consumers reporting using this method for their last purchase at the point of sale,” the report said.

Meanwhile, Owen Jennings, executive officer and business lead at Cash App parent Block, discussed the evolution of the platform with PYMNTS in November.

“When I joined Cash App 10 years ago, we were just a peer-to-peer app,” he said. “Now, customers are truly banking with us, so the level of trust required is meaningfully different.”