The Block ecosystem includes brands like Square, Cash App, and Afterpay that increase access to better financial services for millions of Americans
WASHINGTON, D.C. – The Financial Technology Association (FTA) today announced Block as its newest member, adding to its roster of technology-driven industry leaders transforming the future of financial services. Block is made up of Square, Cash App, Spiral, TIDAL, and TBD, all working towards the purpose of economic empowerment. Additionally, Block recently acquired Afterpay.
“Millions of Americans rely on Block’s brands every day, whether they’re using Square to pre-order lunch on a restaurant’s website, repay a friend for dinner with Cash App, or use Afterpay to manage their cash flow,” said Penny Lee, Chief Executive Officer of the Financial Technology Association. “We’re proud to welcome Block to FTA and work together to elevate the transformative power of technology to increase access to better financial services.”
“We share our purpose of economic empowerment and breaking down barriers to financial services with the Financial Technology Association,” said Tom Manatos, Head of Federal Affairs at Block. “We look forward to working with like-minded industry leaders at FTA to tell the story of financial innovation and advocate for modernized financial policies and regulations.”
Square helps sellers of all sizes run and grow their businesses with its integrated ecosystem of commerce solutions, business software, and banking services. Additionally, through Cash App, anyone can easily send, spend, or invest their money in stocks or Bitcoin. Cash App helps drive financial inclusion through access to reliable, instant financial services, an essential offering for those who lack access to traditional banking services.
Afterpay, recently acquired by Block, is a leading provider of “Buy Now, Pay Later” services and was a founding member of FTA. “Buy Now, Pay Later” (BNPL) is an alternative payment option that allows consumers to budget their spending without paying high interest rates. Afterpay continues to be a member of FTA through Block. FTA represents several other leaders in the BNPL space, including Klarna, Figure, Sezzle, Zilch, and Zip.
FTA advocates for the modernization of financial policy to enable positive transformation on behalf of consumers, small businesses, and the economy. FTA’s core policy priorities include driving financial inclusion, securing the open banking infrastructure, enabling faster and more secure payments, encouraging broad chartering authority, and more. Read more about FTA’s policy advocacy here.
The Financial Technology Association (FTA) champions the transformative role of financial technology for American consumers, businesses, and the economy. Representing industry leaders, FTA elevates fintech’s power to increase competition and drive financial innovation through responsible products and services. As our members’ voice in Washington, FTA advocates for the modernization of regulation to support greater access to financial services.