CashApp to Exit the UK Market

eyemblacksheepIndustry News

Popular peer-to-peer payment app Cash App has announced it is exiting the UK as it ‘deprioritises global expansion’

The announcement comes at the same time that they announce a partnership with Google Play in the US.

The mobile payment service allows users to transfer money to each other using a mobile phone app. In a statement Cash App said Cash App UK would close down on 15 September, saying it was a “difficult decision”.

It said: “We do not make decisions like this lightly, as we know they impact our customers, our partners, and our team members who have helped us build to where we are today.”

It added: “In recent months, we have outlined our strategic approach for Cash App, which prioritises our focus on the United States, and deprioritises global expansion. All of our operations remain unaffected by this decision.”

The closure date in the UK is September 15th 2024. Users should withdraw funds prior to that and seek alternatives.

This comes as another blow to creators, given the recent closure of Wishtender and the lack of apps ‘friendly’ to the industry.

If any creator has problems withdrawing funds; cashapp is still regulated by the FCA and funds are protected as part of the FSCS  – the FSCS can be contacted for any disputes on withdrawing funds.