Regular advancement in the tech world has made our lives easier. For instance, sending money online has become easier than ever. In fact, many social platforms are offering one-step payment services.
This thing gained popularity in 2013 when Square Cash developed an innovative solution. It’s a mobile payment company allowing people to connect a debit card to pay through email. It eliminated multiple steps and delays in online payment.
A year after its launch, Square Cash launched its app for iOS and Android to simplify the payment process. Later, it worked towards its monetization by offering services for businesses in the US. It charged a 1.5% fee per transaction for sending money from users.
By Q2 2022, this mobile payment app generated a revenue of $2.62 billion, which is a 12% year-over-year increase. It generated a $774 million profit for the quarter.
Cash App Key Statistics
Square Cash tried controlling costs by fleshing out the app. Each time a user withdraws money, it loses money because it has zero transaction costs. But in 2017, Cash App improved, with average customers generating $15 in revenue.
As a result, the app became popular among its competitors, like Venmo. The same year, Cash App also started Cash Cards for people who don’t like using mobile phones to pay. Among the total Cash App users, around 13 million own a Cash Card.
Another thing that helped Cash App gain popularity was Bitcoin Trading. In 2018, the app allowed users to sell, buy, and transfer Bitcoin without worrying about the Bitcoin marketplace’s time and cost.
By 2020, Cash App managed to generate a revenue accounting for 76% through Bitcoin Trading. In 2022, the app generated a $37 million bitcoin gross profit.
Here are brief key statistics of Cash App:
- Cash App generated $16.2 billion in revenue in 2024.
- In 2024, Cash App earned $10 billion from Bitcoin trading.
- Cash App recorded its highest-ever profit of $5.23 billion in 2024.
- Cash App had 57 million active users in the U.S. in 2024.
- The largest user group in 2024 was aged 25 to 34, making up 25.9% of the total base.
- 24 million users had a Cash App Card in 2024.
- In Q4 2024, Cash App saw $71 billion in customer inflows.
- In 2024, 22% of user spending was at Big Box & Discount Retailers
Cash App Overview
- Launch Date: 15 October 2013
- Headquarters: San Francisco, California
- People: Amrita Ahuja, Jack Dorsey, Jim McKelvey
- Business Type: Division
- Parental Company: Block Inc
- Industry: Finance
Cash App Revenue
Over the past few years, Cash App’s revenue has increased. It shows the company has managed to gain popularity among people.
Cash App generated $16.2 billion in revenue as of 2024 and is projected to reach $18.5 billion in 2025, according to updated estimates.
Cash App Annual Revenue 2018 to 2025 ($bn)
| Year | Revenue ($bn) |
| 2018 | 0.4 |
| 2019 | 1.3 |
| 2020 | 5.9 |
| 2021 | 12.3 |
| 2022 | 10.6 |
| 2023 | 14.3 |
| 2024 | 16.2 |
| 2025 (Estimated) | 18.5 (Updated 5th May 2025) |
Cash App Bitcoin Revenue
After Cash App released Bitcoin Trading in 2018, its revenue has surprisingly increased by a great mark.
Cash App generated an annual bitcoin revenue of $10 billion in 2024 and is projected to generate $11.5 billion in 2025, according to updated estimates.
Cash App Annual Bitcoin Revenue ($bn)
| Year | Bitcoin Revenue ($bn) |
| 2019 | 0.51 |
| 2020 | 4.57 |
| 2021 | 10.02 |
| 202 | 7.1 |
| 2023 | 9.5 |
| 2024 | 10 |
| 2025 (Estimated) | 11.5 (Updated 5th May 2025) |
Cash App Profit
In 2024, Cash App reported its highest annual profit of $5.23 billion and is projected to generate $6,4 billion in 2025
Cash App Annual Gross Profit 2018 to 2025 ($bn)
| Year | Profit ($bn) |
| 2018 | 0.19 |
| 2019 | 0.45 |
| 2020 | 1.23 |
| 2021 | 2.07 |
| 2022 | 2.95 |
| 2023 | 4.32 |
| 2024 | 5.23 |
| 2025 (Estimated) | 6.4 (Updated 5th May 2025) |
Cash App Users
As per a report, Cash App US users have increased by 15.3 year-over-year and were reported to be 47.8 million in 2022.
Cash App currently has 57 million users in 2024 and is projected to reach 60 billion users in 2025.
Cash App Annual Users Stat (mm)
| Year | Users (mm) |
| 2016 | 3 |
| 2017 | 7 |
| 2018 | 15 |
| 2019 | 24 |
| 2020 | 36 |
| 2021 | 44 |
| 2022 | 51 |
| 2023 | 55 |
| 2024 | 57 |
| 2025 (Estimated) | 60 (Updated 5th May 2025) |
Cash App Users By Age Group
As of the latest data, 25 to 34 Years old make up the largest share of Cash App users at 25.9%, followed closely by 35 to 44 Year old at 24.03%.
This clearly shows that millennials and early Gen X users are the core audience actively using the platform for payments, investing, and everyday money management.
| Age Group | Share |
|---|---|
| 18 to 24 Years | 17.6% |
| 25 to 34 Years | 25.9% |
| 35 to 44 Years | 24.03% |
| 45 to 54 Years | 17.11% |
| 55 to 64 Years | 10.02% |
| Over 65 Years | 5.3% |
Cash App Card Owners
Cash App Card works similarly to a basic debit card, allowing people to make quick payments. Of the total Cash App users, around 24 million people use Cash App Cards in 2024.
This number is expected to reach to 27 million by 2025
Cash App Card Owners 2019 to 2025 (mm)
| Year | Cash Card Owners (mm) |
| 2019 | 3.5 |
| 2020 | 7 |
| 2021 | 13 |
| 2022 | 18 |
| 2023 | 22 |
| 2024 | 24 |
| 2025 (Estimated) | 27 (Updated 5th May 2025) |
Cash App Inflows
Cash App customer inflows 2021 to 2025 (bn)
| Date | Inflows ($bn) |
|---|---|
| Q4 2021 | 45 |
| Q1 2022 | 48 |
| Q2 2022 | 50 |
| Q3 2022 | 52 |
| Q4 2022 | 54 |
| Q1 2023 | 61 |
| Q2 2023 | 62 |
| Q3 2023 | 62 |
| Q4 2023 | 63 |
| Q1 2024 | 71 |
| Q2 2024 | 71 |
| Q3 2024 | 70 |
| Q4 2024 | 71 |
| Q1 2025 (Estimated) | 65 (Updated 5th May 2025) |
Cash App Spending on Merchants
As of 2024, the largest share of Cash App user spending goes to Big Box & Discount Retailers (22%), followed by Restaurants (19%) and Other Retailers (15%).
This shows that Cash App is widely used for everyday purchases, making it a key payment method for shopping, dining, and routine expenses.
| Top Merchants | Market Share |
|---|---|
| Big Box & Discount Retail | 22% |
| Restaurants | 19% |
| Other Retails | 15% |
| Gas & Auto | 13% |
| Travel & Entertainment | 13% |
| Grocery | 8% |
| Telecom & Utilities | 7% |
| Other | 3% |
Cash App FAQ
Ques 1: What number of Cash App revenue comes from Bitcoin?
Ans: Around 76% of Cash App revenue comes from Bitcoin.
Ques 2: How much Cash do App users have on the app?
Ans: Cash App users have stored around $1.7 billion.
Ques 3: Does Cash App Work Globally?
Ans: Cash App offers its services only in two countries, i.e., US and UK.
Ques 4: Who Uses the Cash App most?
Ans: Low-income adults are more likely to use Cash App as they find it convenient to transfer money.
Ques 5: Why is Cash App popular?
Ans: Over the years, Cash App has gained popularity and established itself as a reliable digital wallet by offering the best payment services.
Ques 6: Is Cash App Card free?
Ans: Yes, the Cash App Card is totally free. One can get it and connect it to their Cash App balance.
