Cash App’s Dedication to Customer Service and Protection

At Cash App, we live by a simple principle: do right by our customers.

Millions of Americans rely on Cash App to access critical and affordable financial services with confidence. We’re proud to offer a suite of products that allow for greater access across demographic groups, lower costs, and fewer barriers to entry.

We know we play a critical role in our customers’ financial lives. We are committed to ensuring a safe and secure experience on Cash App, as well as relentless self-assessment to improve our platform. This means ensuring our customers have access to the tools and support they need when they need it.

During the pandemic, Cash App experienced unprecedented growth as millions of Americans came to use our platform in a time of crisis, and that rapid growth tested our customer service like never before. Over the past several years, we’ve made significant investments in customer support and resolving concerns more efficiently, in addition to combating scams.

We always value constructive collaboration with regulators to address concerns and develop solutions that benefit our customers. Today, we reached an agreement with the Consumer Financial Protection Bureau to resolve a previously disclosed matter principally related to certain aspects of Cash App’s historical customer service program. While we strongly disagree with the CFPB’s mischaracterizations, we made the decision to settle this matter in the interest of putting it behind us and focusing on what’s best for our customers and our business.

The historical issues raised in this agreement do not reflect the Cash App experience today. We are committed to continually investing to ensure we uphold industry leading standards. Here are some of the key elements that highlight the strengths of our customer support and protection programs:

• Multiple ways for customers to contact us directly, including live phone support, email, real-time in-app messaging, and a dispute submission tool within the app.
• Use of advanced detection systems, AI, and machine-learning models, designed to reduce bad activity and proactively identify account takeovers before customers report them.
• Industry-leading approach to scams, which incorporates a multifaceted strategy to effectively combat scams and safeguard customers.
• Innovative Payment Warnings tool, which leverages our AI models to warn customers that their peer-to-peer transaction may be part of a scam.
• Collaboration with industry partners to address risks like complex scam operations that happen both on and off financial platforms.
• Educational resources to help customers identify and take action against potential scams, including national marketing campaigns, partnerships with third-party organizations, Cash App’s website and support pages, email marketing, and social media communications.
• Robust security measures, which include Cash App Card lock and Face ID, as well as automated controls to prompt a customer for their PIN for second-factor authentication.

This work is never done. We remain committed to doing business responsibly while proactively taking initiative and independent action to better serve our customers.