ezaf

CashApp made most of their money through Bitcoin and the exchange fees (something like 70% in 2021?). Additionally, they charge extra for instant transfers in and out of CashApp. I believe its 1.5%.

Lastly, they also make money by keeping the Cash in the CashApp/Square network. Since it is all within Block, they will not have to pay interchange fees when a customer pays with CashApp to a Square merchant.

Keep in mind that Block's $17.6B revenue includes CashApp which makes up almost half of their revenue.

It looks like the $640B payments processing does not include BaaS & SaaS products offered by Stripe