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- October 13, 202619°
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- October 13, 202619°
Cash App introduced a cane-shaped payment product
Cash App transforms existing cards into a cane-shaped NFC-supported product for $25. The limited production device can be used wherever contact payments are accepted...
Block's digital payment service Cash App has launched a new product that allows users to transform their existing cards into a cane-shaped accessory for $25. This shiny and pearly product can be used wherever contactless payments with a phone or card are accepted.
The company's new hardware product was introduced under the name Cash App Tags. These products, designed as NFC-supported physical devices, are planned to be offered in different shapes and sizes in the future.
Pairs with phone, works like a card
To link the cane to a Cash App account, it is enough to hold the device to the back of the phone. For this, a Cash App card must first be registered. Once paired, the product becomes a payment tool like a bank card.
The product can be used like a small accessory that can be attached to a keychain. The company's goal is to make the payment tool more visible, more fun, and more eye-catching.
The company wants to make payment more visible
Block's hardware executive Thomas Templeton said that digital payments speed up shopping but make the process quieter and more invisible. According to him, the purchasing experience should be not only practical but also fun.
Templeton noted that Cash App cards often remain in wallets or pockets, and this new product aims to keep the payment tool in sight. According to the company, the design's purpose is to make the payment experience social and expressive.
Will be produced in limited quantity
The cane-shaped product will be limited to about 10,000 units. The company plans to test different product categories with another "drop" after this first series.
It was stated that Cash App Tags will not be limited to this product alone, and much smaller designs may be developed in the future. The products are aimed to require no batteries, be easily designed in small productions, and be durable enough to go through a washing machine.
The company is also considering integrating this technology into clothing or accessories in the future. More product categories are expected to be released within the year.
Arrived during a calm period within Block
The launch of the new product coincided with a turbulent period for Block. The company, formerly known as Square, changed its name in 2021. Last year, the handheld Square device was also downsized.
This year, the company made a significant reduction by cutting its workforce by about 40%. There were also reports that employees found the work environment demoralizing and anxiety-inducing.
Despite this, Templeton said the company is doing well, reporting revenue and releasing products faster. According to him, Block is acting like a startup again.
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