Loans and phones: Block's post-layoff battle with banks, fintechs

▤ Summary

Block is pushing harder into consumer financial services after a major workforce reduction. The company has expanded Cash App ties to Afterpay, widened its lending features, and launched a mobile phone plan through Cash App Mobile. It is also leaning into crypto and larger merchant relationships to strengthen its wallet ecosystem against PayPal, Stripe, and other fintech rivals. Analysts say the company still has product momentum despite the leaner organization and the slowdown in Cash App growth. The article frames these moves as part of Block’s effort to deepen engagement on both the consumer and merchant sides.

▦ Linked Companies

Block

$1B+