According to the latest reports, Cash App, a transfer tool owned by payment giant Square, claimed that now consumers can get bitcoin rebates every time they make a payment. Before that, Cash App only provided USD rebates.
This move may be to compete with PayPal, which is the first to enter the cryptocurrency field, to compete for the market. It is also another sign that the mainstream is increasingly accepting Bitcoin. For Cash App and its parent company Square, the importance of Bitcoin is increasing.
The company’s third-quarter earnings report in November indicated that Cash App generated $1.63 billion in revenue, an 11-fold increase over the same period last year.
Earlier, the cryptocurrency lending company BlockFi announced a partnership with Visa to launch a bitcoin credit card in early 2021.