Cash App has announced it will cease operations in the UK as part of a broader strategic shift to focus on the US market.
In a release, Cash App UK stated that it will close down on 15 September 2024. The company described the decision as “difficult”, acknowledging that it doesn’t just affect customers, but also its partners and team members.
A post on Cash App’s website read: “We are grateful to all of our customers and partners who have supported us over the years, and we are committed to making this transition as smooth as possible.”
The main driver for this choice is a new strategic approach for the company, which prioritises its focus on the US and de-prioritises global expansion.
Cash App has told its UK customers that their funds remain safeguarded until withdrawn, even after its service closes. The company said: “Our goal is to make this change as smooth as we can.”
Alongside the initial announcement, the company has unveiled plans to update customers in the coming weeks about what changes they can expect and what actions they need to take.
Cash App currently operates in Ireland, but it is unclear if this strategic shift will impact its operations there as well.